Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 9 years ago,

User Stats

57
Posts
6
Votes
Albert Melo
  • Palm Springs, CA
6
Votes |
57
Posts

HELP! For sale by owner!!

Albert Melo
  • Palm Springs, CA
Posted
Hey BP community, after about 6 months of looking for my first property to buy. We have found it! Actually, I should say my wife did. She was telling one of her co-workers about us wanting to buy a house, long story short: the co-workers mom had just passed away and the four kids( including herself) just want to her rid of the property at a low price and without involving an agent. However, they want all cash because she said they don't want to go through too much paper work and have to deal with a bank( appraisal, etc). Also, one of the daughters can't move out for another 6 months because she needs to find a place. Which works out for me because my lease is not up for another 6 months. But I want to make sure I lock this deal now so I don't get stuck with out a property if 4 months from now the market goes up and they want more money or if one the kids changes theirs mind.so this is where I need help and my questions are the following: 1) do I try to convince them to let me get financing with a loan or should I just get private financing and pay all cash. And then refi and pay the private lender back 2) how do I go about buying a property directly from the buyer with no agents involved.should I contact a real estate lawyer? (Btw The property is in California) 3) is it legal/possible to lock the deal now legally. And allow for the daughter to move out in six months and for them to get paid once the daughter moves out, 6 months from now? I just want to be sure I don't get stuck with out a property for any Reason that they pull out of the deal Any advise/tips would really appreciated!! Thanks in advance

Loading replies...