New to Real Estate · Sonora, CA · Member since 2020 · 2 posts · 0 votes
I have the opportunity to purchase a 4/2 in the foothills of Ca from a very close friend. They would like to sell and have offered the property to me for a very good price. They would rather not deal with a relator, and though I know it's possible, I've never bought or sold without one. How can I make sure that we're doing everything correctly? I'm comfortable drafting documents (I'm a contracts manager by day), but I'm looking for a good resource to walk me through the process.
I'm good friends with the seller and I've lived in the home for the past year so I'm not worried about being burned or surprised by issues. Any and all guidance would be appreciated!
Real Estate Agent · Riverside, CA · Member since 2017 · 204 posts · 105 votes
5y
hire yourself a good transaction coordinator in your area and have them help you make sure you're compliant with CA laws. Any escrow company and title group should be able to help you with the transaction. Just make sure you're doing the inspection still and making sure you know what you're getting into.
I have the opportunity to purchase a 4/2 in the foothills of Ca from a very close friend. They would like to sell and have offered the property to me for a very good price. They would rather not deal with a relator, and though I know it's possible, I've never bought or sold without one. How can I make sure that we're doing everything correctly? I'm comfortable drafting documents (I'm a contracts manager by day), but I'm looking for a good resource to walk me through the process.
I'm good friends with the seller and I've lived in the home for the past year so I'm not worried about being burned or surprised by issues. Any and all guidance would be appreciated!
Don't hire a transaction coordinator. Hire a lawyer. Google "real estate lawyer" and your city, call a few, and get quotes to prepare and execute a purchase agreement. The lawyer can advise you on escrow and title needs.