How to buy an off market property?

How to buy an off market property?

San Jose, CA · Member since 2019 · 64 posts · 26 votes

Hi All,

I’m about to close on my first investment property, and already thinking about number two. It is a condo in Maui that I will be renting short term.

I’m in escrow now and feel like I’ve signed dozens of documents.

I have a lead on another unit in the same HOA that is not listed on the MLS. I know the market really well and don't need a real estate agent to help with this. However, I wouldn't know how to execute on the transaction without an agent involved? Who can help manage all the paperwork and closing process? Can I pay an agent a set fee to coordinate for me?

Jeremy

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Rental Property Investor · Erie, PA · Member since 2015 · 1k+ posts · 2k+ votes
7y

Hire a good real estate attorney and he/she will take care of it. I've done deals without RE agents and the real estate attorney did everything an agent would have done as well as the typical lawyer duties as well. 

I actually did this on my very first multi-family deal - it's nothing to be afraid of. 

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  • Rental Property Investor · Erie, PA · Member since 2015 · 1k+ posts · 2k+ votes
    7y

    Hire a good real estate attorney and he/she will take care of it. I've done deals without RE agents and the real estate attorney did everything an agent would have done as well as the typical lawyer duties as well. 

    I actually did this on my very first multi-family deal - it's nothing to be afraid of. 

  • San Jose, CA · Member since 2019 · 64 posts · 26 votes
    7y

    @Karl B. Thanks. Is this something the seller should still pay for?

  • Rental Property Investor · Erie, PA · Member since 2015 · 1k+ posts · 2k+ votes
    7y
    Originally posted by @Account Closed:

    @Karl B. Thanks. Is this something the seller should still pay for?

     No - you'll be responsible for paying your real estate attorney. Though for a simple real estate transaction it's often a set up-front price. 

  • Lender · Hermosa Beach, CA · Member since 2015 · 70 posts · 32 votes
    7y

    @Account Closed You can hire a Real Estate Transaction Coordinator to do it for about 1/3 the cost of an attorney. PM if you need one. 

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