Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 8 years ago,
Do it Yourself Closing on a free property (Allegheny Pittsburgh)
Dear Bigger Pockets community,
The Situation: I have contacted an out of town property owner in Pennsylvania who is willing to give the property away if I take on the back taxes. Even with a rehab the ARV would be low (15-20k). I have contacted all taxing authorities and determined there is 3200 tax owed on the property which we are willing to pay, and a minor sewage lien.
As there is no money being transferred here I was hoping to do the closing myself. I am aware every REI and his dog is against this strategy. However here me out: I have completed law school (in Australia) and had some experience writing and examining deeds before. I have been wanting to do a closing on my own for the experience and get a greater understanding
I have written a deed that is compliant with all Allegheny county regulations on the website and am planning to drive to the sellers hometown and sign the deed in the presence of a notary.
Any major flaws in this plan?
Regards,
Jamie