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Updated over 10 years ago,

User Stats

946
Posts
153
Votes
Mark Forest
  • Real Estate Investor
  • Fenton, MI
153
Votes |
946
Posts

Advice on buying a FSBO

Mark Forest
  • Real Estate Investor
  • Fenton, MI
Posted

I just found a “for sale by owner” where the prior owner is another landlord. The landlord said the tenant had abandoned the house, but personal property was still in the house including things like a laptop, purse and other valuables.

I do not have much experience writing my own purchase agreements, or how to protect my interests in such a transaction. How can I learn what to look for and include for my benefit? What would be my obligation if this prior tenant shows up to demand her property and it's all been disposed of? I assume I would have to hire a title company to insure against liens. Is there anything else to consider for a FSBO?

Thank you all in advance for any advice. 

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