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Updated about 6 years ago,

User Stats

53
Posts
10
Votes
Raden Mantuano
10
Votes |
53
Posts

Offer accepted for my first seller financed deal! Now what?

Raden Mantuano
Posted

So a seller and I have come to an agreement on terms on a property and I literally had to raise funds from family to obtain the down payment. Now that I have the EMD down payment. I just realized there are closing costs involved. What parties are involved at this stage of the transaction? Unfortunately, I didn't account for the closing cost at the time, but wasn't sure if i needed it now or even needed it at all, since I'm going directly to the seller. Since there is no realtor and commissions involved I guess what im trying to get here is, what would be the 1,2,3 steps to close, for example (1. the EMD is now sent to the sellers title company etc etc..) which parties are involved and whats the closing cost im expected to come out of pocket on my end?

Im a realtor but i guess since im a realtor buying my first house as a cashflow property directly with a seller. 

Thanks in advance guys!

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