Cash Sale Process
This document is an operational checklist from The Land Geek FLIGHT SCHOOL that outlines the exact actions to take after a cash buyer commits to purchasing a property. It guides the user through collecting the buyer’s deposit and document fee, generating cash‑sale paperwork in the LGPASS system, sending those documents for electronic signature, collecting the remaining purchase balance, confirming the draft deed details with the buyer, finalizing and notarizing the deed only after funds are verified and the buyer approves the draft, recording the deed with the county or via Simplifile, and finally delivering the recorded deed to the buyer. The checklist emphasizes verification of funds and buyer approval before deed finalization and provides platform recommendations (SignNow, DocuSign, Simplifile).
Topics
Deposit and Document Fee Collection
Gather the buyer’s initial deposit and documentation fee, typically paid together, as the first financial step in the cash sale.
Cash Sale Document Generation in LGPASS
Create all required cash‑sale documents using the LGPASS platform, inputting property details, buyer information, and purchase price.
Electronic Signature Workflow
Dispatch the generated documents to the buyer via an e‑signature service (SignNow, DocuSign, etc.) and await completed signatures before proceeding.
Remaining Balance Collection and Draft Deed Confirmation
After signatures, send payment instructions for the balance (wire, ACH, certified check) and provide a draft deed for the buyer to verify name and address.
Deed Finalization Conditional on Funds and Buyer Approval
Only sign and notarize the deed once the buyer’s funds have cleared and the buyer has approved the draft deed, ensuring both conditions are met.
Deed Recording Options
Record the notarized deed either directly with the county recorder or electronically through Simplifile.
Delivery of Recorded Deed to Buyer
After successful recording, provide the buyer with a copy of the recorded deed to complete the transaction.