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Updated over 8 years ago,
Help With Our First Cash Deal - Houston Texas
My wife and I are considering purchasing her parents old house, and fixing it up to use as a rental property. We were in the market and actively looking for our first rental property when they started talking about selling their house. We were planning on financing whatever investment property we purchased, but this house is so cheap that the closing costs are over 10%. This has made me consider purchasing the house from them cash, but I am not sure how to do that.
This will certainly be a newbie question, but what are the steps required to purchase a house with cash in Texas? Since this was going to be our first purchase, I planned on relying on the bank and realtor to let me know what needed to be done and when, but since we won't have either in this case, I need to figure it all out myself. Any help would be greatly appreciated!