How Selling To Us Works
The Hemingway Land Company works to make our transactions as easy and efficient as possible for the land owners we buy from. In fact, the people we do business with are typically very surprised at how effortless we’re able to make these transactions.
So maybe you’ve received an offer letter from us about wanting to purchase your land. You’ve considered it, but want to know more about how the process works.
Step 1: Call Us Or Mail Back The Signed Purchase Agreement
The first thing we will normally ask anyone interested in selling their land to us is to identify the Reference Number in the top left corner of the offer letter we sent you. It is not uncommon for us to mail upwards of 10,000 property owners at one time, and the Reference Number (normally an eight-digit letter-number code) helps us to identify whom we’re talking to, and which property we’re talking about.
Step 2: Due Diligence
Once you’ve indicated a desire to sell your land our staff will begin a thorough investigation of the property in question. Amongst other things, we will identify the property’s exact location using Google Maps, pull the Vesting Deed from the County Recorder’s Office, check the back taxes with the Treasurer’s Office and in some circumstances even pull Plat Maps from the County GIS Office. It is our goal to learn 1) that there is no cloud on title and that the property can be conveyed 2) the taxes are current or not prohibitively expensive and 3) the location of the property is desirable and not located next to say, a prison or a landfill. Once we have determined all these things we will call you back – normally between two and five business days - and either pass on the property or agree to purchase it.
Step 3: Drafting The New Deed
On the properties we agree to purchase, we will start by drafting a new deed and whatever county specific paperwork is required to convey title from you, the seller, to us, the buyer. Upon completing this we will normally e-mail you copies for you to review. Once you have agreed that all names, spellings and addresses are correct we will contact a notary in your local area and hire them to close the transaction.
Step 4: The “Notary Close”
Once we have hired a notary in your local area we will mail them a packet containing the new deed and whatever other paperwork will require your signature. Along with this they will receive a self-addressed stamped envelope as well as a cashier’s check made out in your name for the cost of the land. The Notary will either be paid in advance through PayPal or will receive a check with the packet. In the meantime, we will typically e-mail both you and the notary with instructions including a detailed list of the contents of the packet along with your contact information. Once the notary receives everything in the mail, they will reach out to you to set up a time and place to meet which works with your busy schedule.
Upon meeting, you will be asked to sign the new deed. The notary will notarize and present you with a check for the cost of the land. The notary will likely then make copies of the original document to present to you and will mail the originals back to us. Upon receipt of the signed deed, The Hemingway Land Company will forward all the documentation, along with a check for the Recording Fee on to the County in which the property is located.
You’ve received your payment, and we’ve purchased your land.
It's that easy!