Buying from my mother-in-law
Hey everyone,
We have agreed to buy a property in Maryland from my mother-in-law, this will also be my first deal. We are not using a realtor so I'm searching for a little guidance on everything that I'm going to need to get lined up. Here's what we do have in place:
1. An appraisal
2. Pre-qualification letter from the bank for financing
3. Purchase price (we are doing $15k of gift of equity)
That's pretty much all I've got so far.
Can I use the MAR Residential Contract of Sale? For the gift of equity, do I just use a letter of intent as an addendum to the contract? If I get a real estate attorney, what will I need to have ready for him to review? Any recommendations for titling companies in Howard County, MD? What else am I missing? Thanks in advance!
Corey