Owner financing with my neighbor

[Najy Lyoubi]

Hello,

Me and my neighbor came out with a verbal agreement for an owner financing deal. We agreed on a selling price of $210,000 at 0% interest with a $7,000 down payment. We know each other, and she is just looking to be hands off and get some monthly income.

However, she has around $5,000 of debt between tax delinquency, unpaid trash and water (liens).

I would like to close the deal asap, however the title company quoted me almost $12,000 to close the deal.

I was wondering if doing the contract for sale and the promissory note with my lawyer was enough. And if we could just go to the city to change the name on the title?

Thanks for the help in advance!

Najy