Purchase Contracts: Purchasing Land from a Neighbor to Resolve an Encroachment

jeudi 5 février 2015

My question involves real estate located in the State of: New York.



I own a home in New York State, and part of my driveway and garage encroaches onto my neighbor’s property. This situation has existed for much longer than we have owned our properties, but we are working together to resolve the issue. He has agreed to give me the property with the encroachment, and I’ve agreed to pay all costs associated with this property transfer.



His bank requires the following, in order to grant a lien release:



-Sales contract;

-Complete legal description of the property being transferred;

-Complete legal description of the rest of his property (minus the property being transferred);

-Survey map of his property showing the property being transferred;

-Appraisal of his entire property; and

-Appraisal of his property without the property being transferred.



My questions are:



1. Can I write a simple sales contract myself?

2. Once I put together these things and we receive the lien release, what do I do then?



Thanks very much!





Purchase Contracts: Purchasing Land from a Neighbor to Resolve an Encroachment

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