Westchester, NY · Member since 2019 · 24 posts · 6 votes
I recently agreed on the sale price of a MLS listed "for sale by owner" property in Philadelphia. I was able to get a good price because no agents were involved. What are my next steps? How ensure the owner doesn't sell the property to someone else as I'm performing due diligence? Who do I hire to draft up a sales agreement? Title company or real estate attorney? I'm still new to real estate investing so any suggestions/guidance/advice is greatly appreciated.
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
7y
Well, that’s sort of the reason you use an agent....they have the the proper forms, know about disclosures, local procedures, title companies, other recommendations, etc. But you definitely need someone, an attorney who can actually advise you or you can probably get a contract from the title company but they won’t likely advise on all the implications of the different terms and conditions. You’ll need someone in Philly.