PLEASE LET ME KNOW WHAT LEGAL DOCUMENTS I NEED TO PROPERLY CLOSE A PIECE OF RENTAL PROPERTY. I LIVE IN TENNESSEE. WE PAID CASH FOR HOUSE.
2007-08-23 13:53:11 · 4 answers · asked by COURTNEY 1 in Business & Finance ➔ Renting & Real Estate
Have you taken everything to a Title company? There should be a third party involved to make sure everything is legal and binding no matter if you paid cash or not. You will need a deed with a legal description on it, you have to know how you want to take title, you want to know if the title is free and clear of any liens from the previous owner. You may want a home inspection so you know for sure that it is a good property and not full of repairs and replacement needs. There could be loans attached, mechanic liens from a contractor that wasn't paid ect.
I would rather be safe than sorry!
2007-08-23 14:07:30 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I hope you haven't handed over any money yet...
I think it's really a bad idea to enter into a property sale without even knowing how to close it.
Everyone: THIS is specifically why you need to bring in experts when buying property.
2007-08-23 14:20:23 · answer #2 · answered by rochelletherealtor 2 · 1⤊ 0⤋
If you don't know what forms are needed, you definitely should get professional help with the closing. At a minimum you need a title company.
2007-08-23 15:02:10 · answer #3 · answered by bdancer222 7 · 0⤊ 0⤋
Rent To Own Homes : http://RentToOwnHome.uzaev.com/?YhIj
2016-07-12 00:42:15 · answer #4 · answered by Crystal 3 · 0⤊ 0⤋