Taking a survey and looking for opinions/advice....
I'm curious to know how many of you have done a cash for deed deal or would if you had the opportunity and why or why not?
I have a seller that I have a verbal offer with and I'm writing up the contact this weekend. The house is under 3k (not a typo). The seller is willing to go thru a title company. But at this low of a price is it worth it to spend the extra money? Or would just giving him cash and having him sign the deed (quit claim) be ok? I know a title company in the area that for $200 will do a lien check going back 25 years from when the seller acquired title. I am thinking about just doing this to make sure no liens pop up and I will check with the water company etc to ensure no outstanding bills.
Thanks for any input!
Not getting a title search is like playing Russian roulette with 4 bullets in the gun.
I agree with the above statement by Wayne Brooks
Just to clarify I would be getting a title/lien search just not doing a full fledged closing at the title company.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing