 Posted 10/19/2006 12:44:37 PM
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We didn't have to handle any paperwork. The buyer arranged for his lending company to handle any and all paperwork. In fact, we haven't even met the buyer as he signed the paperwork via overnight mail and we signed (5 minutes max) in the lending office.
Piece of cake!
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Posted 10/19/2006 12:57:23 PM
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| The buyer provided a purchase/sales agreement that looked comprehensive so we used that. If he did not have one we would have used the standard MLS forms which an agent friend gave us.
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Posted 10/20/2006 3:30:02 PM
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I hired a real estate attorney to handle the all of the paperwork for me. This action made the paperwork effortless.
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Posted 10/23/2006 3:33:25 PM
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Because I am an investor and do a lot of buying and selling I try and use attorney's to do all my paperwork.
Because experience has taught me to keep any realtor you work with on a very short leash I handle most of the paperwork through my attorney and not the realtor. This is just my choice because of my experience. The state of SC does not require you to handle your transaction through an attorney.
If you are going to use an attorney find a good one by checking references and see if any realtors have used them. Unfortunately there are a lot of attorneys who you need to stay clear of if you want your closings to go smooth and never use the same attorney as the seller if you are a buyer no matter what they tell you it is the makings for a disaster.
I can not emphasize enough about getting a good attorney to do the paperwork and get you all your copies you will need for your taxes and records.
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Posted 10/30/2006 5:26:58 PM
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We used a lawyer to handle the legal paperwork and gave the contract to the Title company. Our attorney was very understanding and went through the contract with us. Once the inspections were done it was a simple deal to close. We saved a lot of money by not having an agent.
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Posted 11/22/2006 11:17:35 AM
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I was able to learn how to draw up the Agreement of Sale myself (not difficult!) and go through settlement with a wonderful title company and no lawyers or realtors!
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Posted 1/2/2007 4:02:06 PM
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| I was well organized w/ the necessary paper work required to close the sale. Once we closed the sale our title company did the final paper work.
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Posted 2/3/2007 7:42:49 AM
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When selling and buying, keep the following in mind.
The Hidden Steps to Closing the Deal
Hunt your deal. Get the option to buy contingent upon something. Use an attorney, sophisticated mentor or agent to review your preliminary paperwork and when you’re convinced that you have the finer details and facts of the deal properly defined, investigated, verified and attested to or otherwise agreed upon, you then remove the contingencies and fully execute the deal (How to Close the Deal). Hint: Write on your option to buy contract that you are willing to pay whatever you have agreed upon or appraised value, whichever is less. Don’t pay over appraised value.
Now you have your contract signed and agreed to by both sellers and buyers, and your earnest money check made out to a title company to hold as a neutral third party in trust. The title company will apply this check to the purchase price during the closing process, thus reducing the amounts you owe by the amount of your earnest money deposit.
Now hold on! It’s not that difficult – here is what you do:
1. Make copies of everything
2. Give copies to yourself, the sellers, your chosen title company and your lender plus anyone else who may be involved. I.e. attorney, mentor, agent, etc.
3. Give everyone involved roughly 45 days from the day you sign your contract to complete the processing of your deal. Some closings are sooner, some later…it varies.
4. Take your cues from the title company, your lender, your attorney, your mentor or agent. They have a duty and responsibility to protect your interests as well as their own. The lender is going to ensure the collateral (property) is valuable and the title company is going to insure clear title.
5. Keep in contact with all the players: sellers, bank, title company, attorney, etc., and keep the ball rolling, right up to the closing table. Then sign the transfer documentation and conclude the deal.
Congratulations, you are a proud owner! If you have any questions on this, consult your attorney.
Helping people sell by FSBO at www.magicbullets.com (for free)
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Posted 3/14/2007 11:28:23 AM
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| The buyer was given the paperwork by a friend who found it on the website.
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