Currently viewing the tag: "Sell"

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Is it possible for somebody to sell other’s land property illegally?

Question: Is it possible for somebody to sell other’s land property illegally?
I am buying a piece of parcel in GA which has a “deed under power of sale” recorded in 06/09. That recorded document said that a local bank owns the property (as of then). I signed a sale and purchase agreement a couple of days ago but later found that the seller is not that bank, instead it is XXX LLC. I have a feeling that the XXX LLC is a one person company. I wonder if somebody is trying to sell other’s property. GA law requires the title to be cleared before the property can be sold and the transaction will be performed by a real estate attorney in the same suite(building) as the listing realtor. I am not using my own realtor in this deal. What do I need to do to not be victimized.

Answer:

Answer by WCHS1970
The real estate attorney and the title search are in place to ensure a clear title and a clean transfer of title.
That should take care of it.

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I am buying a home from a builder, and the builder added a clause that i couldnt sell the house for 12 months?

Question: I am buying a home from a builder, and the builder added a clause that i couldnt sell the house for 12 months?
i would think this is illegal…..it reads the following;

Buyer will not openly market the unit, or allow another party to openly market unit for a 1 year period starting on the date of the close of escrow on the purchase of the unit of the buyer. The term “openly market” means any marketing efforts including, without limitation, (a) listing the unit with any licensed real estate agent or listing in the Multiple Listing Service or its equivalent (b) advertising the unit as “for sale” in any manner including, without limitation, any form of media or physical signage

If this was legal, i would think lenders would put this is in loan documents long ago. Instead, lenders utilize prepayment penalties…… i need to find the statute that protects individuals and enables them to sell real property at any given time

Answer:

Answer by Carolinahomerates.com
they do this to protect the other homeowners in the community from investors

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Does anyone know where I can get/buy a Contract of Sell Form for real estate?

Question: Does anyone know where I can get/buy a Contract of Sell Form for real estate?
My sister is going to sell me her house but going to hold the deed, title and loan for me until I can refinance or have the loan paid off. I have been told by my accountant to complete a “Contract of Sale” and it must be “Contract of Sale” not Purchase Agreement, but I can not seem to find this form anywhere. Can someone please help me out?? Give me any kind of guidance would be great. thanks.

Answer:

Answer by Bill
You should consult a real estate attorney to make sure this deal meets with state requirements and protects you and your sister.

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