House Bought From Sale By Owner, Now What?

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I hope this is the right place to post this. I'm just getting into rehab and got lucky today. Saw a sale by owner and it turns out to be original owner of ranch house who is elderly and moving back to old country. His nephew, from the old country, is here to take him back and he says he has power of attorney. He accepted my offer today but has no idea about what to do, has made no arrangements for transfer(no attorney). Everything in the house stays. County taxes are current and the house is paid for. He wants us to figure everything out and we will split closing costs, legal fees, and anything else I guess. What should I do besides get financing going? My mortgage broker will arrange the title search I suppose. Should I find an attorney to get involved in this? What steps should be taken here? confused

Comments(1)

  • DavidBrowne5th October, 2003

    If you can't do your own title search you will need a lawer or a title search company.

    Get a contract on the house with the family make sure the documents are ligit notarized and the same as town hall record.

    Maybe best for you to go through an attorney from the start.

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