Purchasing A Property Without An Agent

[Brad Gibson]

I'm a fairly new real estate investor.  I've acquired 9 properties over the last 2 years and I'm looking to add number 10.  To this point, I have always used a realtor or broker to assist with the purchase of all of my units.

I got lead and then a call about a property from a lady who heard I buy houses & would like to sell.  Her asking price is a square deal and I'm ready to make an offer tomorrow, but she has no real estate experience and I have none sans-agent.

Any crash course advice for a newbie who has no fear of doing the necessary work, but I don't know what I don't know.

Here is how I think it might need to go:

1) Make a formal written offer (Find a standard real estate contract & make the offer for both parties to sign.  Be sure to include an option for inspection and an addendum for financing)

2) Notify my mortgage broker that we have a signed contract and to start his process & order an appraisal.

3) Get in touch with a title company or real estate attorney to work up the paperwork.  Ask the title company to do their standard title insurance work for both buyer and seller.

4) Do the due diligence on the property and allow the bank to do their underwriting process.

5) Schedule the closing, wire the money, and sign all of the documents to transfer ownership.

Is there anything that I'm missing or have left out?

Thanks in advance y'all.