Cold Calling Off Market Absentee Owners

[Sterling Fields]

Hello all, 

I have read many discussions on cold calling/direct mailing absentee owners. Before I begin this process however, I am interested to know how things progress if you actually get someone who is willing to engage you and possibly sell.  I was thinking that I would ask them if I could come look at their property with a contractor (as I am not fully confident with estimating rehab costs on my own yet) to see what the rehab estimates would be. Once I get the rehab estimates, I would then make a cash offer through a real estate agent and try to do a quick close, contingent on an inspection that reveals no major damage, i.e., termites, busted pipes, mold.  Am I missing anything here? Also, when not going through a bank, how do you know that the deed is good/recorded/warranty deed, etc.? When do you check this out?

Thanks for all of your help, 

Sterling