Selling To A Cash Buyer. Anything I Should Remember ?
I have in the past used a Realtor or a mortgage broker to complete a property sale, using the NAR promulgated forms.
In this instance I intend to sale a property to an investor that will be purchasing with cash ( telegraphed funds).
I will not be represented by a Realtor, an attorney nor will I require the follow through of a loan processor.
I will ofcourse arrange for the closing through a title company, and expect that they will request of both parties what is required to close. While this makes things straightforward I suspect there is some element of which I should remain circumspect.
1) Is there an itinerary I should enumerate to ensure that I do not overlook anything that protects my interest?
2) Should I have an offer presented on a promulgated contract? I have not done so in the past, any gain in doing so now?
3) Any stipulations I should insist upon to protect by behind.
4) Any closing cost items I should expect to accede to covering? What items can I reasonably be expected to pay?
I could do with some other minds to state the obvious that might be eluding my own thoughts on the matter.
We Realtors really don’t do a lot to earn our money so I think you’ll be fine not knowing what to do as long as you can make copies and staple...
It sounds like your decision to go it alone has great economical benefits, to someone anyway...
The many things I could add would be interpreted as Agency relationship so I can’t say what I was going to say...
The time limit for being sued by the Buyer isn’t too long so there wont be too many sleepless nights wondering if the money you saved was well earned.
Have a fun time…
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A properly signed purchase and sale agreement will inform the closing title company how and where to apply closing costs.
The title company will not disburse money to you or anyone else until they have receipt of the purchase funds.
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Is there a NAR transaction (offer) form? A Sales Agreement document produced by the NAR. [ Edited by winter59 on Date 02/23/2006 ]
can this be done in pencil?