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I'm looking at purchasing a house from an individual where there is no bank lien. I plan on paying c

I'm looking at purchasing a home from an individual where no bank is involved. I plan on paying cash, but am unsure of what paperwork is involved. What title checks, warranty deed, other paperwork is involved? Or is it best to go through a realtor? The property is proced fairly low, so I was hoping to avoind the additional costs...
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June 14 2013 - Waurika
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Answers (5)

You must hire Title Company, they will do things right. Trust me you will sleep better after their professional help.
Liens could be from all over, not just the Bank and also the ownership must be confirmed. There is so many things that can get wrong!
You need either Realtor or Title Co.
Thank you and good luck
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June 15 2013
I would suggest, the fact you need to ask the question is a good indicator you should re-think going it alone. Paying cash vs mortgage does not really matter, I recommend you either purchase through a realtor (the sellers generally pays unless its a FSBO) or use an attorney.

When it comes to avoiding extra cost, DO NOT AVOID THE TITLE Warranty/Insurance. or any thing required to get one.  Some times an FSBO will tell you no loan, then you don't need the inspection, survey appraisal, or title warranty..

While that's not a lie, there's no one making you, the only reliable protection you have comes from the Titles companies warranty.
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June 14 2013
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If "all" you are looking for is forms, and you feel confident as a DIY, there are companies that provide forms specific to your state. Here is an example.
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June 14 2013
I agree with Mike.  Don't go it alone into a legal, binding contract.
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June 14 2013
You and the seller can hire a real estate agent for a flat fee (as opposed to commission) or you could hire an attorney to draw up the paperwork and set up escrow.

The advantage of an agent doing the work is the fees may be lower but the advantage of an attorney is they can provide you with any needed legal advice.
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June 14 2013
 
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I'm looking at purchasing a house from an individual where there is no bank lien. I plan on paying c
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