Cash for Deed

[Sheri Ulm]

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!

[Wayne Brooks]

Not getting a title search is like playing Russian roulette with 4 bullets in the gun.