Zachary Prince If you're feeling unsure on your first deal (I know I was, and have only done 2 so far; 4 total buy/re-sell transactions) you might call around to different closing companies in the area that you're planning to work in. So far, I've done deals in two different states and in both cases I kept calling local title companies and explained/asked:I was planning to do a small private land purchase (no realtors involved)What would be the minimum costs, understanding that my purchase price is probably around the minimum cost for a title insurance policy?Are there any other costs that could arise, depending on the circumstances of a particular sale? (I'd ask this one a few times, using different words, just to be sure they've told you everything)Do they have any standard/template documents that you could use for this transaction, which are known to be compliant with all laws in that location?
In my admittedly very limited experience, I found that both title companies I ultimately worked with, in two different states, were perfectly happy to supply documents, and probably would have walked me through filling out the contract if I asked. In both cases, I called probably 3 to 5 different title companies in that area before I chose the one I ultimately worked with, and I made that choice based in part on how receptive they seemed to be to walking a novice through the process.
The other thing that I would say, having been where you are now, very recently, is to just focus on one step at a time, and don't get overwhelmed/paralyzed into non-action by trying to understand all details on 100% of the process before you get started. Focus on getting your list and your mailer out. Then, when someone responds, focus on how you deal with talking with and making an offer to a prospective seller. Then, when you have some kind of verbal or non-binding written agreement on a deal, focus on getting a Purchase and Sale Agreement in place (again, some title companies have offered to provide me with this, if I wanted). Then how do I close a deal in state/location X, etc.
Other than having a good idea of the value, and a general idea how I planned to go about marketing a property for sale, I wouldn't worry too much about what the details of the selling process will be when I'm in the middle of trying to do my first purchase.