Green behind the ears and feeling lost
So conventional financing is out of the question currently so I've been listening to podcasts, about 6-8 hours worth while I'm working at night. I keep hearing subject to and seller finance. They both sound great but in the podcasts they don't dumb it down enough and really get to the basics. I understand the principal behind those type of sales. But the very beginning is what's holding me up. Do I need to go spend the money talking to a real estate lawyer and title company before I even approach any sellers? Do I need a real estate lawyer to draft up subject to paperwork or contracts before I try to lock up a deal? Let's use fake example, I find a military member that is moving out of state to a new base. They don't have too much equity so I talk them into selling me their house subject to because they don't intend on trying to rebuy immediately. Would I go talk to a lawyer after I get them to agree or pull a subject to contract out of my back pocket and have everyone sign it on the spot? If all that went well do I just take the signed contract to a title company and say hey I need you to put the deed in my name. I'll be making the payments on this property for the remainder of the loan, here is my contract.