I purchased a recreational building lot for Cash. I'd like to avoid expensive legal fees, but want to be sure the title is properly registered to my name. Is this do-able, or a recipie for disaster? I would think on something so simple, it should be possible if a step by step detailed action plan were carefully followed to the letter?
Dean
2006-12-24 12:11:58 · 5 answers · asked by messier 2 in Business & Finance ➔ Renting & Real Estate
OK, so does someone have a copy of the steps to take? (in Nova Scotia?)
2006-12-25 07:45:13 · update #1
shop around ..you should find a lawyer that will do it for cheap
then if a mistake is made you have someone to come back on
lawyers carry insurance for this reason
the simpler the transaction..the less it should cost
least i've paid is ap $500 and it was worth it..
also notary republics to conveyance..and can be ap $400
they don't mind giving you a quote and the more time they have..the more reasonable the price can be..
if you must do it alone..then leave very early in the morning..cause the person behind you in the line with the briefcase is next and has that brief case filled with titles to clear..and will be there over an hour..and knows what he is doing..and you will end up with a sheet of paper from the clerk on how to file...then your at the end of the line..and the others know what they are doing..
2006-12-24 12:22:07 · answer #1 · answered by m2 5 · 0⤊ 0⤋
Do-able? Yes. Advisable? No. Get a quote from an attorney on this. You might be surprised at how reasonable the fees generally are on a simple cash transaction. The peace of mind is usually worth it.
The most important part of the transaction is going to be the title search. Attorneys and closing agents like title companies have access to resources that make that fairly easy. Doing a title search by hand is drudge work of the worst possible degree especially if the land registry books are kept in chronological order. If they're filed by plat it's much simpler but you still have to search around for mis-filed deeds and other documents to be safe.
2006-12-24 12:21:40 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Of course it is possible. You must however be very careful with interpretation of the instructions issued by the relevant authorities. If you are unsure always check with the authorities for guidelines and leads.
I saved some money last November when acquiring a Care Centre. I refused to pay the Seller's agent a 5% commission (thousands of dollars) who insisted to represent me for the transaction. He mentioned about rules and regulations which entitled him to claim that. My argument was he had his rules and regulations, and I have my own policies, and would if follow my policies. His reply was no, but he was unable to convince me that I must follow his rules.
It ended up that I do all the legal papers on my own. Yes it is a little troublesome, but than you save some money and acquire some experience. And I value that experience more than the money saved.
In total I spent an extra week for being a greenhorn on the matter. But I think it is worth the while.
2006-12-24 12:22:41 · answer #3 · answered by JP E 4 · 0⤊ 0⤋
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2016-12-11 15:33:00 · answer #4 · answered by Anonymous · 0⤊ 0⤋
ok me my self i wouldnt cause theres alot os stuff we both dont know and let the guys earn there money it all comes and goes around that all i have to say
2006-12-24 12:23:27 · answer #5 · answered by Anonymous · 0⤊ 0⤋