How to Buy a Property From Land Trust
1. Identify the property or properties you want to buy.
2. Mail a completed Property Request Form to Land Trust, c/o Michael B. Hunter, 4035 Central, Kansas City, Mo., 64111. You also must submit a cashier’s check or money order payable to Land Trust of Jackson County (neither cash nor personal checks are accepted) for the cost of an appraisal. (See the fee schedule below.) When you subsequently purchase the property, the appraisal charge will be deducted from the purchase price of the property. If you do not purchase the property, the appraisal cost will not be refunded.
3. Once the form is submitted and you have paid for the appraisal, Land Trust will arrange for an appraisal by an independent appraiser and, when the appraisal is complete, will advise you of the value of the property. This process can take up to 60 days.
4. Once the value is established by the appraisal and you have been notified, you can proceed with the purchase or stop. If you decide to go forward, then you must submit two cashier’s checks or money orders, payable to Land Trust of Jackson County – one for the appraised value less the appraisal cost and the other for the charge to record the deed, $24. If you choose not to buy the property or simply do not buy the property within 30 days after you have been advised of the value, then the process ends.5. When Land Trust receives the checks, the proposed sale is submitted for final approval to the Board of Trustees for Land Trust when it generally meets on the fourth Wednesday of the month. The cutoff for sales to be submitted is generally 3 p.m. on the Friday before the Trustees' meeting. When the board approves the sale, a special warranty deed is prepared and recorded to complete the transaction. Such deed is mailed to the buyer by the Office of Records after it has completed the recording.
The fees for appraisals of Land Trust properties are:
|Unimproved residential property||
|Improved residential property||
|Unimproved commercial property||
|Improved commercial property||