Land Contract Question

Looking to assign a deal on a land contract / agreement for deed or whatever is customary in DC; transfer taxes are PUNATIVE here (2.2%) so the buyer wants to defer them to decrease his out of pocket funds. I’m just in and out of this deal for a quick $5-6k assignment.


Can I (or should I) close this deal myself, perhaps in front of a notary? Since there’s no deed being transferred I don’t see an obvious need to do this at my attorney’s if I don’t need to. I have the forms.

Also is the instrument to be recorded when fully executed by all parties?

nsu, I’m just now preparing to start doing these myself. So get some more replys. Anyway the transfer taxes should be between the seller and the end buyer not you. Your assignment agreement you will want to have notarized and recorded. The other parties can have their contract recorded if they want. If you close the deal first then be ready for a double close(?) and its no longer an assignment. Like I said I’m just getting ready for these so don’t consider this gospel. Herbster

I’d like to know how this ends up; keep us posted.

Good luck NSU.