I just inherited a house on a half acre of land in a commercially zoned area.The heirs this property are ready

Asked by Robert, Tulare County, CA Tue Jan 22, 2008

to sell without an agent. The house will obviously have to be torn down and the family does not have the time, patience, or funding for this venture. If we sell this property on a private contract (CASH ONLY) will we need a real estate attorney to close the deal?

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Deborah Madey, Agent, Brick, NJ
Tue Jan 22, 2008
Hi Robert,
I just responded to your other question without realizing that the property will be torn down. If this is a cash sale and there are no inspections, and no loan, it is a simpler transaction than I described in the other post.

The buyers are not required to have a survey if it is cash, but they might likely elect to get a survey done. An attorney, title compnay and escrow company are still needed.
1 vote
Liz Stevens, , Berkeley, CA
Tue Jan 22, 2008
You will need a real estate attorney to make sure your contract protects you and is thorough enough to prevent any future legal action against you. Sounds like you have thought this through enough to know that developers tend to want lots of time to tie up the property while they look for investors. Get an escrow and title company on board as well as the Real Estate attorney. best of everything. Liz
1 vote
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