Apparently, there are 7 heirs to this property/estate. One has died. Now they have to track down his two kids in San Antonio. The property has a very old deed. It's been in this family for about 100 years!
I get it. Clear titles are good titles, so this may be a little advanced for real estate novices, but let me tell you! Make sure you have a very clean title for anything you buy.
1. No liens. A title company should never allow you close your deal if liens are on the property.
2. No back taxes. If you read carefully, or get an attorney to read for you, you'll see that the title company will clearly state that "it ain't their problem" if the tax man comes lookin' for his money from a long time ago. Check that shit. Do not buy property with back taxes owed.
3. Any other restrictions. In our case, their is a water conservation district with sort of dense rules. Actually, the rules are very straightforward. They're just written like some dude on the legislature - or his secretary, actually - would write them. I'm a good reader. I read that stuff to make sure I was not restricted from digging a well on my very rural, very raw land.
4. Utilities in general. Make sure you can get them. You probably are not the "off the grid" person you think your are.
5. Pay for the lawyer. If this stuff scares you, come up with the cash and get a lawyer. Get the paperwork read and explained to you. Do it. Seriously.
Soooooo.... In the meantime, we can research flat pack houses, cabins, rain water catchment, tractors....
May 1 is a long way off, but we will happily wait for a clear title.
No comments:
Post a Comment