Hi. I finally have a buyer interested in the house we are selling FSBO. I got a copy of a standard real estate contract and modified it somewhat with the assistance of an attorney. What do I do now? I "hire" a title company, right? Is there anything I need to know about this step and or other steps I take at this point?
2006-12-05 15:37:10 · 5 answers · asked by lisa f 2 in Business & Finance ➔ Renting & Real Estate
I am in Ohio. Thanks.
2006-12-06 01:23:50 · update #1
Is it okay for the seller to hold funds in escrow? I think this is what the attorney I talked to said.
2006-12-06 01:25:00 · update #2
You and the buyer need to agree on a title company. If there is a deposit to be put down the title company will take it and put it in a escrow account. The title company should take care of the rest.
2006-12-05 15:47:07 · answer #1 · answered by Anonymous · 0⤊ 0⤋
In the states I'm familiar with, the seller usually selects that title company. They will take care of a lot, and the remaining can be handled through a good mortgage broker that is working with the buyer. If they are not yet pre-approved, make sure that this is done quickly so if they do not qualify, you will not lose opportunities with other potential buyers while it is off the market. I would suggest to anyone else to hook up with a good mortgage broker up front
2006-12-05 16:41:14 · answer #2 · answered by walkinandrockin 3 · 0⤊ 0⤋
You have all the hard work done, the Title Company will do the rest. I have sold bunches like this and finally decided reals estate agents are the most overpaid people on the planet.
2006-12-05 16:12:50 · answer #3 · answered by ? 3 · 0⤊ 1⤋
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2016-11-30 04:59:14 · answer #4 · answered by mrotek 4 · 0⤊ 0⤋
The Title company's fees come out of closing - should be good to go
2006-12-05 15:40:22 · answer #5 · answered by tomkat1528 5 · 0⤊ 0⤋