Owner selling house. Cash buyer.

Owner selling house. Cash buyer.

Member since 2019 · 4 posts · 0 votes

If we pay cash for a house sold by owner would there even be closing costs? Or would it just be inspection type things and transferring the deed?

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Member since 2019 · 3 posts · 2 votes
7y

HI,   I am not familiar with Missouri laws regarding real estate and whether or not it is an attorney state.  attorney states have a whole differnet set of rules.   That is probably the first thing I would try to find out and then if so, call an attorney in real estate in that area.  Or a Realtor.   They would also know and are always willing to answer questions.  That is where I would startf :)  Good luck!

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  • Member since 2019 · 3 posts · 2 votes
    7y

    Hi,  I think some of this depends on what state you are in.  What state are you in?

  • Member since 2019 · 4 posts · 0 votes
    7y

    @Nancy Claussen I live in Michigan, but would be buying in Missouri. Will still have our house and main residency in Michigan. Would probably only live in Missouri for about a year then either rent out the Missouri house or sell it.

  • Member since 2019 · 3 posts · 2 votes
    7y

    HI,   I am not familiar with Missouri laws regarding real estate and whether or not it is an attorney state.  attorney states have a whole differnet set of rules.   That is probably the first thing I would try to find out and then if so, call an attorney in real estate in that area.  Or a Realtor.   They would also know and are always willing to answer questions.  That is where I would startf :)  Good luck!

  • China, ME · Member since 2014 · 3k+ posts · 4k+ votes
    7y

    @Amy Colleen Rink Here in MA, you'll have legal/title search fees - or a title company if not in an attorney state, maybe a municipal lien certificate and recording fees at the Registry of Deeds.  Though not required, home inspection and you should also be sure to buy owner's title insurance.

    Each state will have its own twist on these, but that's what would happen here.

  • Member since 2019 · 4 posts · 0 votes
    7y

    @Charlie MacPherson Thank You!

  • Member since 2019 · 4 posts · 0 votes
    7y

    @Nancy Claussen Thank You!

  • Real Estate Broker · Detroit, MI · Member since 2014 · 384 posts · 149 votes
    7y

    @Amy Colleen Rink If you close at a title company, which I always suggest, there will be closing costs. With cash transactions they are nominal.

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