Off Market Direct Deal - step by step...

[Chris Lawlor]

Hi Folks,

I'm loving the help and advice that folks are happy to give on this forum. It is so resourceful. I cannot wait until I have some level of experience to be able to positively contribute also.

In the interim, we are looking at an off-market deal with a friend of the family. The house has a market value is 270K and we are being offered the deal at 250K if we purchase it directly. The house is in Upstate NY. 
We are not worried about any shady dealings, but I am concerned that we do things correctly. 

We would be getting an inspection and title search obviously, but what are the other sets that we should be taking as we progress through this transaction? 

Has anyone done a similar deal before? Any pitfalls to watch out for. 

Thanks 

Chris.