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Updated about 6 years ago on . Most recent reply

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16
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3
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Peter Hightower
  • San Antonio, TX
3
Votes |
16
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How do I "Deed" a Property?

Peter Hightower
  • San Antonio, TX
Posted

I'm purchasing a property from a friend. It is a 1,000 ft 2bd/2ba SFR that has been vacant for 8 years and is in need of significant repairs. The agreed sale price is $22,000. He is selling it to me on a zero down, owner financed, personal note and I am going to self-fund most of the repairs. My question is, what is the absolute minimum that must be done to transfer title to the property? Someone suggested "Just have him deed the property to you" but I'm not sure how the mechanics of the transaction work. A title company has quoted me $1,700 to close the transaction. I'm sure there is a less expensive way to transfer the title even if it involves a bit more work on my part. Any suggestions?

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3,467
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Tom Gimer
  • DMV
3,417
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3,467
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Tom Gimer
  • DMV
Replied

Pull the current deed from the land records. Copy it word for word except the grantee (your friend) becomes the grantor, you become the grantee. If there is a being clause, update it with recording info of prior transfer. Dates and dollars change as well. Pay recording fees/taxes and record among the local land records.

  • Tom Gimer
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Eastern Title & Settlement
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