Making a cash offer. Now what?

[Drew Vukov]

I am considering making a cash offer on a property (a duplex) I found that is not listed and the owner is only asking whats left on his note, 29K. It should have an ARV of 55k-65K. But I would hold it and use it as a rental.

So if the offer is accepted whats the next step? Theres no broker involved in this deal.

[Michael Slabitcher]

Hi Drew,

You would hire a real estate attorney and he/she would contact the seller's attorney to draw up the contract and set up a closing date.