Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Updated about 9 years ago,
Buying From a Friend-What Steps to Take?
I've been looking for properties with a realtor for a while now. A few days ago a good friend of mine decided she is ready to sell her house. We discussed it and both decided we are serious about her selling me her house. Neither of us are really interested in involving realtors if we don't have to. We figure we could both save some money, her by not having to pay a realtor the 6% and me because she could sell it to me at a more reasonable price because she will be saving around 15,000 by not using a sellers agent.
I am very confident that we can find a price that feels fair to both of us, but neither of us really know all of the steps necessary to close the deal.
Can anyone help lay out the steps involved? I will be working with a mortgage lender, so I'm sure he will be able to help, but I am also not opposed to hiring a real estate lawyer or someone else to assist.
Thanks y'all!