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Updated about 2 years ago,

User Stats

17
Posts
8
Votes
Alecia Prigmore
  • Rental Property Investor
  • Reading, PA
8
Votes |
17
Posts

Process to sell vacant land without title company or lawyer?

Alecia Prigmore
  • Rental Property Investor
  • Reading, PA
Posted

Advice please, I am selling a small, now vacant, piece of residential land for 11k in Pennsylvania. I know I can do this on my own without a title company or lawyer, though I will use a lawyer for about $150 to prepare the deed. Prepare deed, sign title at the lawyers office and exchange the funds, then take deed to the County Recorder's office. Is that the process? But after the deed is prepared, what other forms do I need to get? I know I need a 1099 but then do I sent that to  the IRS or hold it until tax time? Do I need to give the buyer a lead disclosure? This property was bought on the county Repository list so there is a Repository title, I know some liens could still be within their statute of limitation to be recorded, so I would not want to offer a General Warrantee deed, so which type should I tell my lawyer to make? 

Thank you!

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