When you are buying a recreational property, getting a surprise at the closing table is no fun. Surprises or complications can cause delays in taking ownership, and that could keep you from using your property right away.
So how do you make sure you won’t get any surprises? We asked for some tips from Deb Kline of First American Title in Baxter, Minnesota, one of the state’s top experts on rural property closings. Here they are:
- Ask questions. “Don’t be shy,” Deb says. “Make sure you know what your real estate agent, title/escrow company and lender are supposed to do, and if they’ve done what’s required for the closing.”
- Be responsive. “It’s fair to expect everyone in the process to move quickly and efficiently,” she says. “That also includes you, the buyer. Respond quickly to any requests for documents or information; that is a critical component of a successful process.”
- Talk about any special arrangements or situations early. “For example, since signatures of all parties are required to close,” she says, “talk it through if someone can’t attend the closing and documents need to be sent out, or if power of attorney is involved.”
Following these tips will add more certainty to a process that can be fraught with complications. And preparing diligently for the closing is important no matter the type of land sale.
As with every step of the land buying process, it’s important to work with professionals who understand recreational property sales. Look for an experienced title/escrow company that has extensive experience in rural property closings and supports the American Land Title Association’s Best Practices.
With their deep knowledge of recreational land sales, Potlatch’s staff and business partners are highly skilled in doing everything they can to prevent surprises. So from the time when you first start thinking about buying a property, considering working with a broker from the Potlatch Preferred Broker Network. Their goal is to make every step of the process simple and problem-free, from your first property visit to the closing.
Contact the Potlatch broker in your neck of the woods today!