Selling a piece of land doesn’t have to be stressful. There are certain steps that you’ll need to take so that the sale goes smoothly.
If you’re thinking of getting rid of some land and making a little cash, you’ll need to take care of a couple of paperwork. But what required legal documents needed to sell land by the owner? And how do you get started?
We’re glad you asked. Keep reading for a guide about what you need to do when selling land.
5 Most Important Legal Documents Needed to Sell Land by Owner
- Land Title
- Property Deed of Ownership
- Updated Title Insurance
- Zoning Certificate
- Tax Declaration
1. Land Title
A land title is a legal document that proves you are the owner of a piece of property. The land title gives the buyer peace of mind knowing that they are buying a property that is legally owned by the seller.
It also protects the buyer from any future claims by someone who may claim to have ownership of the property.
2. Property Deed of Ownership
A property deed of ownership is a legal document that proves an individual or entity’s ownership of a piece of property. This document is required when transferring ownership of property from one party to another.
The deed of ownership includes information about the property such as the name of the owner, its location, size, and any restrictions that may be in place.
3. Updated Title Insurance
When you purchase a home, you receive a title insurance policy that protects you from financial losses if the home’s title is found to be defective. The policy is provided by a title insurance company and is usually valid for the life of the loan.
If you want to sell land fast, you can purchase an updated title insurance policy, which will protect the new buyers from any defects in the title that may have arisen since you purchased the home.
This can help to speed up the selling process, as the new buyers will not have to worry about the potential for financial losses.
4. Zoning Certificate
A zoning certificate is a document that is used to show proof that a zoning permit has been obtained for a particular property. This certificate is important to have when selling land for cash, as it helps to show that the property complies with all zoning regulations.
Without a zoning certificate, a potential buyer may be hesitant to purchase the property, as they may be concerned about potential zoning issues. Having a zoning certificate helps to alleviate these concerns and makes the selling process much smoother.
5. Tax Declaration
A tax declaration is an official document that is filed with the local government office that assesses and collects taxes. The document declares the value of the property, usually the sale price, and the amount of tax owed.
This information is used to help the selling process by ensuring that the correct amount of tax is paid. It also helps to ensure that the property is properly valued for tax purposes.
Tax Declarations may vary, depending on if you are selling your raw land or if it comes with a building. You may see more information on selling raw land.
Be Aware of the Documents Needed to Sell Land by Owner
It’s important to be aware of the documents needed to sell land by the owner to avoid any legal issues down the road.
Make sure to consult with an attorney to ensure that you have all the necessary paperwork in order before beginning the sale.
To learn more real estate tips or any interesting reads, be sure to check out the rest of our blog!