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Updated over 3 years ago,

User Stats

54
Posts
35
Votes
Sam Collins
Pro Member
  • Investor
  • Houston Texas
35
Votes |
54
Posts

What are the steps for a cash purchase?

Sam Collins
Pro Member
  • Investor
  • Houston Texas
Posted

Hello BP Community,

I have a question regarding what the steps are for a cash purchase of a home. Let me break the deal down a little. 

I am purchasing a house that needs a complete renovation from a close family member. I will be paying all cash for the home. But the seller offered me owner financing with very little money down so its hard not to accept this. I will be planning on doing all of the rehab myself considering I have done this for many years so I will be waving the home inspection. All my purchases up till now have been financed and this will be the first cash or owner financed property I have purchased. There will be no realtor involved also. Purchase price, down payment, and loan terms have been agreed upon already.

So my question is what steps do I follow? When and how do I request title work? I am completely unaware of the steps that need to take place next. I am assuming we would sign a Purchase Agreement, then I can order a survey, then take the survey and purchase agreement to title to close?

any help would be greatly appreciated 

  • Sam Collins
  • Loading replies...