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Updated over 12 years ago on . Most recent reply

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Kyle J.
  • Rental Property Investor
  • Northern, CA
5,172
Votes |
5,116
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Do you use a title company when buying property directly from owner?

Kyle J.
  • Rental Property Investor
  • Northern, CA
Posted

Okay, this seems like a simple question with a simple answer, but I could use some advice.

All of my rentals have been MLS listings bought the traditional way with a realtor. However, I've been presented with an unexpected opportunity to buy a house directly from a family who inherited it and have no interest in keeping it. Neither of us want to get a realtor involved since that would just cut some of the profit out of the deal.

Assuming we come to a mutually agreeable price, what exactly do I need to do to complete the sale? It's my understanding from my preliminary conversation with them that the house does not have a mortgage on it. Can they just grant deed the house to me and then I can record the grant deed? Or is it advisable to use a title company to do the transfer? Obviously I want to also make sure I get a clear title, so is going through a title company the best way to accomplish that?

Any suggestions/advice is welcome. Thanks.

Most Popular Reply

Account Closed
  • Landlord
  • Seattle, WA
1,839
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3,412
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Account Closed
  • Landlord
  • Seattle, WA
Replied

Even with an all cash deal I want the assurance that I have clear title. I also want to know if there are any easements or encroachments on the property. Title insurance is relatively cheap for what it protects you against.

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