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Updated over 2 years ago,

User Stats

34
Posts
19
Votes
Josh Raikin
  • New to Real Estate
  • San Francisco, CA
19
Votes |
34
Posts

Off market property- how to?

Josh Raikin
  • New to Real Estate
  • San Francisco, CA
Posted

Just moved to Dallas. TX and interested in buying off-market properties. Is anyone able to clarify the process once I have an address? Below is my attempt at a procedure, and would really appreciate any corrections!

1) Find address (property in which I can add value to and cash flow)

2) Determine owner of property via county records.

3) Utilize a skiptrace to find contact information for said owner.

4) Call owner and ideally make an agreement to buy property using any strategy that fits the property. (i.e. cash offer, conventional mortgage, seller financing, wholesale, Subject-to (which I am mostly unfamiliar with), short-sale (which I am also fairly unfamiliar with), etc.)

5) Approach title company to purchase said property with terms agreed upon with buyer. 

- Not sure if one can use an agent for an off-market property.

6) Ensure financing (i.e contact lender)

7) Write up contract (including financing terms, options fee, earnest money, etc.).

- Not sure if an agent, title company or I write this up with example documentation online.

8) Sign said contract with seller.

9) Celebrate and get to work!

Again, thank you to anyone who is able to correct/ clarify things here!

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