Are there any contacts between the seller and the title company in a cash deal? I’m the seller here and the buyer changed the close date. I have no contacts with the title company. Not that I know there would be interaction. I’m attempting to determine if they (the buyer) are serous or not. What clues would I be looking for? I’ve been dealing with the buyer (investor) and there are no realtors involved. How do I protect myself? Thank you.
What do you mean “you have no contact with the title co”? They have to send you closing statements, etc. A buyer can’t extend the contractual closing without your permission/agreement.....you can agree or not. Just talk to the title company, see if the delay was their request/need.
Did you verify the buyer actually has the cash to close? Do you know that you’re not dealing with just a wholesaler?
A purchase agreement, earnest money, and proof of funds.
What @Mike Dymski said and a real estate attorney would likely be in your best interest if you don't have much experience in contracts yet.
@Wayne Brooks thanks. That was what I was looking for, a marker to give an indication that the sale is in the works.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing