Legal Question in Real Estate Law in New Hampshire
Selling a Property
I have decided to sell a condo that I own. A friend of mine is ready to purchase it with cash. What do I need to do to complete the closing without using a lawyer. There is no need for a lawyer in this case, all it is is wasted money. I would just like to close the deal and let them move in.
1 Answer from Attorneys
Re: Selling a Property
Hi -
My name is Len Foy and I am an experienced real estate attorney, my office is located in Londonderry NH.
I can understand that you're reluctant to hire an attorney, and concerned about legal costs - but trying to sell property without some help from an attorney has its own risks and costs.
Initially, you begin with a purchase & sale agreement between you and the buyer, establishing the price, any deposits, inspection details, the projected date of closing (when the property officially changes hands), etc. The buyer should examine the title to look for liens, encumbrances, mortgages, etc. - but that is on the buyer and not your responsibility in this transaction. If it's a condominium then condo fees must be pro-rated and there should be some communication with the condo ass'n prior to closing. You, as the seller, will be responsibile for preparing a warranty deed and delivering the deed to the buyer at closing.
But here's what it comes down to - the buyer is usually responsible for retaining an attorney or title company to conduct the transaction, check with the tax office and condo ass'n, examine the title, insure the title, etc. I recommend AppleTree Title & Closing, LLC in Londonderry NH, "AppleTree" does title work throughout New Hampshire. Their charges are reasonable (about $500 for the whole project, to be paid by the buyer). As for you, the seller, I'll gladly represent you in the transaction, prepare the deed for the closing, prepare the purchase & sale agreement, etc. - and just to allay your fears about overpaying, I'll discount my work and charge you $250 for that service -
If you're interested you can call me at (603) 434-3437 or (603) 978-0421, AppleTree's main # is (603) 434-9910. Or you can send me an email and we'll kick it around further.
Regards and Good Luck -
Len Foy