Wholesaling
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 4 years ago,
Can someone walk me through the process of closing a deal?
Hi all, I'm a first-time homebuyer and planning to reach out directly to homeowners to find a deal in this crazy market.
I've driven around and found around 50 properties that look like they are vacant and/or in disrepair. I plan to send letters that say something like:
My name is Ray and I'm looking to buy my first house in ________ area. Is your property for sale? If so, I may be interested in buying it. If you are interested, I'd like to set up a time with you and discuss how to proceed. etc.
However, I'm stuck trying to figure out what comes next if an owner responds. I'm assuming you need a certain type of contract. Do you then take the contract to a real estate lawyer or title company and they handle the rest?
I plan to use a 203k loan to cover the price as well as any repairs needed.