Getting The Deed
I have read a lot about how you are to get the deed (especially with Sub 2). So, if you have a seller who agrees to give you the deed right there do you then sign an Agreement for Deed or just a Standard Purchase & Sale agreement which says that the Deed will be conveyed to me(buyer)? Or both?
What am I missing?
Thanks
- Paul
The document that yu're looking for would be a Warranty Deed. That and a reciept for $10 for the property is really all that it takes for them to sign over the property. This all becomes legal when you file at the courthouse.
It would however be irresponsible of me to indicate that this is all you need to do real estate investing. This is not the case, and you should gain at least some basic knowledge about your chosen field, and do due dilligence on each deal you intend to do. Act with a little common sense and integrity, and the experience will come.
Good luck,
Jeff
Jeff,
Thanks. So, is the Warranty deed a generic form that I would bring or is it something the seller would have?
I know I have a long way to go and am just gathering info right now. I've read a few books, listening to LeGrand & surfing this forum every day. I'm learning a lot.
THANKS
Most office supply stores will have a blank Warranty Deed. I make a copy of the original deed that the owner has, and cut the legal description of the property off the copy and paste it on the blank warranty deed in the appropriate place, make sure that the other five or six blanks have all of the correct names, and the $10 listed as consideration, and then make a copy of that. Now I have one document with all of the right information. Get it signed and notarized, and the property is yours as soon as you file the deed. Done, you now own the property.
What if the owner can't find the original deed? How do you get the legal property description? Would that be avaiable at the courthouse?
the legal description is available at the courthouse.
Thanks so much for the info Jeff.
-paul