Buying vacant land

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The title company wants to charge $4k for a 2 acre purchase for $20k. That’s a racket!!!

Does that sound right? Or is it just a greedy title company. I might just head down to the county office. $4k to handle a simple handshake cash deal is crazy over the top.
Post #23 about finding some land. We called the Grant County office that builds the abstract today. They said it was going to cost $1100.
I don't believe those title companies have a fixed rate. Shop around and see if there is another title company willing to do the job.
 

skeene482

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Ok county treasurers.com is an excellent website. A map of the state comes up. Click on your county and it goes to oktaxrolls.com. Click on view or pay taxes. You can then enter owner name or property address. It shows taxes paid or unpaid since 2016. Once the property is displayed, click on the history button to display prior owners. Should work state wide.
This is absolutely correct this is a great tool! We use this website on a daily basis.
 

skeene482

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Post #23 about finding some land. We called the Grant County office that builds the abstract today. They said it was going to cost $1100.
I don't believe those title companies have a fixed rate. Shop around and see if there is another title company willing to do the job.
Oklahoma abstractors board website has posted prices and all abstract companies are regulated by these posted approved prices. Always a good way to check that they are being honest as some companies like to over charge.
 
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Oklahoma abstractors board website has posted prices and all abstract companies are regulated by these posted approved prices. Always a good way to check that they are being honest as some companies like to over charge.
Then why is one company the OP contacted want $4000 for 2 acres, when we are talking around 23 acres for $1100?
Does rural vs property within city limits make the difference?
 

Raido Free America

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The title company wants to charge $4k for a 2 acre purchase for $20k. That’s a racket!!!

Does that sound right? Or is it just a greedy title company. I might just head down to the county office. $4k to handle a simple handshake cash deal is crazy over the top.
Some states have eliminated the abstract, and have title insurance! We bought some land in Arkansas , and I was not familiar with this ,so I had to check into it. What i found was this is a much simpler, less expensive, and even safer way to manage this. For a one time fee the insurance company guarantees the title, and if something is wrong they refund all your money!!
 

HoLeChit

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building an absract from scratch can be a very complicated proceedure and expensive. updating an abstract can be complex or simple just depends on how current it is.
This is my understanding. Its more or less priced based upon how much work there is to do. I dated a girl who was an abstractor, and she would have abstracts that go back to pre-statehood, and had to audit the entire thing. Its expensive, definitely a big complaint when I buy or sell property, but it can save you bacon. If someone still has claim to your land, and you aren't as good at understanding the law as they are, you can really get screwed.
 

garytx

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Received an unsolicited letter from a land flipper.

I usually toss the letters in the shredder without reading it, but my curiosity made me read it. From a firm in California wanting to buy one of my parcels of land.

They offered $1100/acre.
Required me to accept the offer in 4 days.
Would close on the property in no more than 7 months!
And the agreement stated they would be allowed to offer the property up for sale!

If this hand been an in-person offer I'd have told them to f-off....

Land will never be for sale. If it ever was, I have a dozen cousins waiting to buy it. Been in the family for 100 years, would place the land in a conservancy before selling to anyone outside of the family.
 

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