buying investment property directly from seller. Paperwork to get and other details please.

[Naveen Desai]

Hello,
I am planning to buy a property directly from the seller.
He says he will record the deed at the county office for me
on the same day of closing the deal. What are all the paperwork I have to get on buying the property.

He says that there is a due of $1200 for year 2012 which I have to pay.
How do I go about finding this is the only dues involved?

I have not seen the property and the home is winterized & I do not plan to
get utilities for the house till I find a renter. Is that OK, or should I get utilities
switched on as soon as I own it.

Thanks,
N/-,.

[Dion DePaoli]

WOW! If I am reading this right, this is a big time issue.

If you mean, there is no title agent and title insurance company in the mix right now, you need to SERIOUSLY consider walking away from this before it bites you in the behind.

How do you know the proposed Seller is the actual owner of the real property?

How do you know that the title to the real property is clean and marketable and that no other party can step forward with a claim to the real property?

It is unclear what "Due" means. Is that some form of Home Owners Association Due?

It is pretty risky to purchase an investment property, that is winterized, which usually means it was an REO, site unseen. There can be all sorts of internal damage. Also, most owners do not winterize their home, banks do when they take back REO, which seems to point to this guy is about to rip you off.

"Trust me...send me the money, I will take care of everything"
"We don't need a title company, I will take it to the courthouse myself to help keep the costs low, etc"

If it sounds remotely like the above, run, the guy sounds like he is about to fraud you. That is not how a legitimate real estate transaction goes down.