through a lawyer or a real estate agent? im looking for the least costly obviously! anyone know?
2006-11-20 07:33:55 · 7 answers · asked by toolate 3 in Business & Finance ➔ Renting & Real Estate
You don't say what State the house is in. If you are in what is called an "escrow" state, then make an appointment with a escrow officer of a title company. Be very clear about what you want. This person is not going to negotiate for you or state the terms of how long you are giving the friend to get total loan approval, contingency clauses, etc. What they WILL do, though, is write up a contract based upon what you have decided together.
You can act naive at a real estate office and ask for a copy of the approved State purchase contract because you are thinking about buying and want to be familiar with the contract. The realtors are going to drive you nuts trying to get you to buy through them, but the idea is to escape out of there with a contract so you can see what you need to know before seeing the escrow officer.
Most realtors like myself would handle the contract part for you for a consulting fee but thenyou are on your own. If you want full representation, you have to pay for it somehow, whether through a consulting fee or attorney's fees. Very few attorneys have the kind of experience we have in putting these deals together and making them stick. They are adversarial by nature and make their living out of pulling people apart, not together! The exception is the states without escrow companies. Attorneys do everything there and are very good at it.
Get that contract, read it over, and decide if this is something you can do alone. Then let the escrow officer draw up a contract based on what you decided. Be very careful; this is the biggest ticket item in your life and your future is often wrapped up in the wisdom of your choices. It is not something to go cheap on.
2006-11-20 08:30:46 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Go on the web and print off paperwork that you must both sign in front of a legal person, this will only cost a few pounds compared to the hundreds that it will cost if you go to a lawyer to start with. You can include your own agreements such as, price, payment(s). Make sure you have your deeds with you and any other paperwork that says it is yours to sell.
2006-11-20 07:38:25 · answer #2 · answered by Emma B 3 · 0⤊ 0⤋
just go to a title company or your title company tell the details they will do the paperwork for a small fee. you do not need a lawyer or real estate agent. they charge toooooo much.
2006-11-20 07:38:45 · answer #3 · answered by mrdan_perkins 2 · 0⤊ 0⤋
A realestate agent is going to to charge you points....You can fo a For sald by owner, and to do the purchase agreement yourself. The person who is getting the financing, your friend will cloose the title company or where he is getting his financing can choose the title company......An atty can do it, but they do not normally do the title search etc....that is why you can use a title company and they do it all
2006-11-20 10:33:30 · answer #4 · answered by W. E 5 · 0⤊ 0⤋
attorney to draw up the papers.
skip the real estate agent, they take a commission.
get a real estate attorney, it should be cheaper.
2006-11-20 07:35:38 · answer #5 · answered by Sufi 7 · 1⤊ 0⤋
Not with friends, not with friends, not with friends. Not if you want to keep your friend. If you want to possibly end friendship, then go right ahead. If anything goes wrong, no more friend.
2006-11-20 07:38:03 · answer #6 · answered by mauiniki 2 · 0⤊ 0⤋
unfortunately you need a lawyer.
2006-11-20 07:35:57 · answer #7 · answered by ? 2 · 0⤊ 0⤋