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For Sale By OWNER on craiglist and the Owners information checks out.What measures I take?

There will be a Notarized contract.I will not wire money.The man lives in Florida and the house is in Indiana.There are people living in it that were given notice. I also plan on looking at it and asking for Identification.On the notary papers i want sent the original documents with Signatures in ink. What else Should I do for precaution?
  • February 01 2014 - US
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Answers (6)

Best Answer

Get a Real Estate attorney to protect you.
  • February 01 2014
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I had an agent do a record of title search.There are people who know of him as the owner.His information checks out.He is the owner.His friend is living in the house and will be moving out.(How do I enforce that?)
By putting a clause in the contract.A real estate attorney may can get notaries for both parties at once.
  • February 02 2014
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How do you know that "John Doe", the owner on record is actually the person you are dealing with?

Craigslist is full of Scams.   Actually saw one for a house I had sold a few months earlier, the actual owner had it for rent  and the scammer also listed it for rent.  For LESS!

Here's a hint: Lease Option Fees generally start at $5,000 and up.  $3,000 is too low.   Smells like a scam

  • February 01 2014
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I am doing a Lease with option to buy.A title company is no use to me.The guy checks out as the owner and address.He has been sending messages back and forth on facebook and talked to me via phone.With the number he has had under his name for years.
He wants 3000$ down and Rent to own.His friend is living there.I am more concerned about the friend moving.I checked  the Tax accesor's office. He is the owner and had a real estate agent go over the info on the house.I would think that a notarized contract holds up in court.And sending a cashiers check to his address is a legal transaction.I would think that by putting a clause in the contract that the current tenants have to be moved out by March 1st is significant.
  • February 01 2014
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I disagree with the scam comment people do this all the time! They don't feel the need to use a realtor and pay 3% comission. All you need to do is get an appraisal, home inspection,and check the title for encumbrances to make sure you are getting your proper value for the price you are going to pay. Then use your local title company to close the transaction. DO NOT SEND MONEY TO THE OWNER!!
  • February 01 2014
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Impossible to be careful enough.  If a seller lives in one state and the house is in another chances are it is a scam.  The reason I say this is 99% of out of state owners know it is virtually impossible to  handle a sale long distance so they hire a local realtor.   What I suggest is you go to the county recorder's office or clerk of courts and inquire as to the owner and their location.  You do not need an address, just the city and state.
  • February 01 2014
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