Just closed...what next?

[Marc L.]

This is my first time selling a house and I've got some questions and don't know where to ask. I'm hoping someone here can clear it up for me.

My father owner-financed a home for me in 2012. We just sold the house and received the check ($92,000) from the closing attorney. Now, I need to get the money to my father to pay off the outstanding balance I owe him on the home.

Is this simply a matter of depositing the check that I received and writing a new one to my father once the funds have cleared? Are there any legal/tax issues that require the transaction to be handled a certain way? There is nothing special about the transaction and there are no other liens on the property. I just need to get the money from me to him.

Thanks for your help!