Basics of an Off Market Deal (Buyer Side)

[Kevin Noell]

Hello,

I might have an opportunity to make an off market offer for a home in Austin, TX area.  Seller wants to entertain our offer before signing with a selling agent.  I have already gotten a quote from a lender at the price we are thinking of offering.  What are the components of this type of deal?  My initial thoughts were that I hire an RE attorney to represent us, draft an offer, and guide me through the buyer's steps of the process.  Seller gets their own attorney and we can agree or disagree on the offer.  To close, we'd have to use a title company.

I spoke with a title company that said they can represent me and provide the usual closing services (title insurance, etc.).  I'm not sure if seller has a particular title company in mind.  Are there companies that can mediate this type of transaction?  Basically provide the services throughout the process and have an attorney represent each side (conflict of interest??)?

I'm sure there are plenty of folks who have done something like this, so I wanted to see if there is a standard operating procedure or if this type of deal varies a lot from one to another.  I want to make an offer soon and just need to get my ducks in line.

Thanks in advance.

[Jordan Moorhead]

@Kevin Noell you can also hire an agent and roll their fee into the loan. We do this for people for $1000 all the time and act as a facilitator.