Frequently Asked Questions
Find out more about our process and how it all works…
Why should I work with True North Land?
What type of Land do you purchase?
What are the costs and fees I have to pay when selling my property?
My property has back taxes or liens or code violations…is True North Land still interested?
Yes! We will work with you to confirm the exact amount owed and what we need to do to get everything paid current, or have any violations cured. If you don’t want to pay for the delinquent property taxes or the costs associated with removing liens or curing code violations, we can reduce the price of the property accordingly and we will cover all expenses and work to get the violations cured and cleared.
My property has title issues, is True North Land still interested?
Definitely! We work with a team of expert title officers that have years of experience working to cure the most challenging title issues. Our team will work hand in hand with you to remove any title issues and obtain clear and marketable title.
What is Title and Escrow?
Title and Escrow are essential components of the real estate transaction process. Here is a quick explanation of both:
Title refers to the legal ownership and rights to a property. When you buy or sell real estate, you want to be sure that the property’s title is clear, meaning there are no disputes or claims against it. Title companies conduct thorough searches and examinations to verify the property’s title and ensure that it can be transferred cleanly from the seller to the buyer.
Escrow is a neutral third party in a real estate transaction. The escrow company holds all the important documents and funds related to the sale. They act as a safeguard, ensuring that neither the buyer nor the seller has an unfair advantage.
Here’s how it works:
When a purchase agreement is reached, we will deposit our earnest money into an escrow account held by the Title Company. The escrow officer then manages the closing process. They handle all the necessary paperwork and make sure everything is in order for the sale to proceed. Once all conditions are met, the escrow company facilitates the transfer of funds and the transfer of the property from the seller to the buyer. Finally, the escrow company records the transaction with the appropriate government agency and ensures the title is properly transferred.
In essence, both Title and Escrow help to make real estate transactions smoother, more secure, and provide protection to all parties involved. They are essential for a successful and legally sound property transfer.
What do you do with my property after you buy it?
As investors, we evaluate each property to determine what is the highest and best use. Many times, we will subdivide a property, or get a property entitled for development. This could include getting the property rezoned or just getting an old improper subdivision cleaned up. Other times we will develop the property by working with our partnered builders and development team. If we are not going to develop the property, we work with an exclusive list of buyers to resell the property or we will list it on the open market.
How quickly can you make me an offer?
We strive to get you an offer within 48 hours. Our team will work quickly to complete our underwriting which includes our initial due diligence, valuation review, and initial discussions with the county building, planning and zoning departments. Lastly, we will usually have a team member go out and walk the property to get additional photos and videos for our review.
How did you determine what to offer on my property?
As soon as we get your offer request, we send out our due diligence team to dive in right away and determine any key attributes that may influence the property value. They conduct research to identify over 30 different factors and attributes with the county, utility providers, contractors and other local experts to ensure we have all the information we need to properly assess your property. We also look at all market activity and base our value on recently sold properties that are comparable to yours.
How do I get paid?
Because we handle all of our transactions with a licenced Title & Escrow company, all funds are transferred through Escrow. This gives all parties an extra layer of security. Escrow will usually ask you how you would like to receive funds which is usually via a wire transfer or a cashier’s check.
Why should I fill out my information on your website?
When you fill out your information on our website, our team gets notified right away to dive in and start evaluating your property. This is the fastest way to get our team working to generate your offer and get a response from us.