Need Help with Owner Financing Specifics

[Aroldo Villarreal]

Hello BP,

I am looking at buying a home that is free and clear and the seller is willing to do owner (or seller) financing. I've come up with a couple of solutions for her, but what I'm worried is the following:

- Are there any closing costs besides the down payment?

- Do I have to take this deal to title to transfer it to my name? What kind of paperwork is supposed to be taking place?

My main concern is the paperwork and making sure that I'm doing everything the way I'm supposed to. I'm planning to move in a tenant in there ASAP. Let me know what other info you need from me! Thank you!

[Victoria Garretson]

Contact a Real Estate attorney.  Always smart to spend a little bit of $$ and do it right!  Will save you money in the long run! Additionally, it is good to start establishing those relationships with title companies and lawyers.  - might be able to find a recommendation through someone on this website, too.