Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

User Stats

3
Posts
0
Votes
Wesley Hubbard
  • Long Beach, CA
0
Votes |
3
Posts

Cash purchase on out of state vacant land - question about paying

Wesley Hubbard
  • Long Beach, CA
Posted

I am trying to finish up my first transaction on buying a small, cheap piece of vacant land in Texas (I'm in another state). I have a purchase agreement signed and will be using paperwork from Rocket Lawyer or a similar site to make up the warranty deed paper work. I've found information on how to close most of this transaction on my own, due to the cheap cost going through lawyers and other avenues would double or triple my costs.

That leads me to my question. I will be paying the seller through wire transfer, however what is the typical sequence? Do we complete the deed and then I send him the money, or vice versa? If I do send him the money first what would happen if he decided to pull out and take my money? This may be a basic question but I am learning as I go, and can't find this information through a google search or search of the forum. Any help would be greatly appreciated!

Loading replies...