wnaplay1647545503 Posted November 16, 2013 Report Share Posted November 16, 2013 Someone asked me if I wanted to trade one of my antique cars for a house and piece of property, even trade. How would this work? Quote Link to comment Share on other sites More sharing options...
Cordell Posted November 16, 2013 Report Share Posted November 16, 2013 That just sounds suspect. Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted November 16, 2013 Author Report Share Posted November 16, 2013 Its on the up and up. I know the person, neither of us know how it would work. Quote Link to comment Share on other sites More sharing options...
Mojoe Posted November 16, 2013 Report Share Posted November 16, 2013 He could quit claim you on to the title, then remove his name, leaving you on title. I would insure there was a title search done on the property to be sure there are no odd esments or liens. It's been a bit since I was in this game, so things may have changed. Once the house is clear, you sign over the title of the car to him. Quote Link to comment Share on other sites More sharing options...
2highpsi Posted November 16, 2013 Report Share Posted November 16, 2013 Joe gave some solid advice. I would get a property attorney and give them the story. They could do the title search (as suggested)..... and presumably could also work out a contract that protects you AND the other person. Real Estate transactions should never occur without some sort of professional intervention. There are just far too many working parts. Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted November 16, 2013 Author Report Share Posted November 16, 2013 Only been in one real estate transaction almost 10 years ago. Any idea what type of fees or a time frame this might take to complete? Quote Link to comment Share on other sites More sharing options...
Mojoe Posted November 16, 2013 Report Share Posted November 16, 2013 Jason, shoot me a call tomorrow and I can get you in touch with my guy I use to do work with. Quote Link to comment Share on other sites More sharing options...
2highpsi Posted November 16, 2013 Report Share Posted November 16, 2013 Only been in one real estate transaction almost 10 years ago. Any idea what type of fees or a time frame this might take to complete? When I did this most recent commercial real estate deal I had attorneys price me anywhere between $500 and $3000 (which I found to be a ridiculously large spread) I was originally talking to out of town people because I was trying to keep the deal on the down low. I eventually talked myself into confiding in a local guy I trusted. The bill ended up being around $1000, but he did a little more work than what I originally had quoted out from the out of towners. The moral of this story is... prices will vary GREATLY. Get some estimates and hopefully find someone that you know and trust, or that comes recommended. Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted November 17, 2013 Report Share Posted November 17, 2013 This is nothing. Title search and a contract stating it's yours is sufficient enough to switch titles. My title guy would probably be $500 to $750 WITH insurance. If you want his info let me know. It would be done in 48 hours. Quote Link to comment Share on other sites More sharing options...
Sledhead36 Posted November 17, 2013 Report Share Posted November 17, 2013 Buy the title insurance! And do what Joe said, this is easy , just cover yourself. Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted November 17, 2013 Author Report Share Posted November 17, 2013 He made me a cash offer I couldn't resist. I appreciate the help guys I was just running out of room and needed to get rid of one of the cars fast. If I could have handled the house transaction as fast as I could have done a vehicle transaction I would have done it. Sounds like this would have taken the better part of a month to finalize. Quote Link to comment Share on other sites More sharing options...
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