I finally got the closing documents, and deed is recorded!

Also, information or documentation do I need to obtain from the homeowner other than payment schedule, amount that they are behind?

If we decide to do this, we would get an attorney to draft the documentation. 

If B of A does well with their new 3% down program, other banks will likely follow their footsteps.If history is any indication, the higher we go, the harder we fall.

I tried to get to know his story and investing history.

Cash is better of course, and any other red flags with their history would make the cashiers check more suspicious.

You'd evaluate comps, speak with realtors, and document your findings.

Hi Everyone, I am negotiating a property in Florida with a motivated seller and I noticed that in the sales history of that property there are no warranty deeds.

And the documents have to be notarized prior to filing. 

You may be confusing documents and patterns.An affidavit death of joint tenant would be recorded along with a death certificate but would not necessitate a probate to effect an insurable transfer.There are summary probates in some state that require minimum court involvement.In my state, CA, a formal probate is required when the Decedent's interest and their total gross estate exceed $150,000.