Found property, now what?

[Brooke McGilvery]

I have being listening to the Bigger Pockets podcasts along with other real estate investing podcasts and have learned a great deal about the various strategies. I’ve even attended a couple of REI workshops to gain more knowledge. But here’s my question, once I find property, what’s the next step in closing the deal? I understand what happens when you have a realtor but how does it work without a realtor? What type of paperwork is needed and where do I obtain it? This is the missing piece to the puzzle for me. Thank you! Brooke

[Christina J.]

Hello, @Brooke McGilvery! Sounds like you're doing all the right things to prepare yourself to make that first deal!

I agree with @Richard Sherman - you can absolutely build a relationship with a local title company and they can help you with all required paperwork. However, I did that for the first time on my 6th deal. And even though it certainly saves money on fees (the seller pays the fees, but it gives you more leverage to negotiate as a buyer if you don't bring an agent to the table), if I had to do it over, I would still stay with the realtor for those first deals. For me, it was critical to have someone who was knowledgeable about the market, and about home repairs and value and who could identify potential problems that I wouldn't have known enough to ask about. 

Best of luck to you and look forward to following your journey!