Lender · White Bear Township, MN · Member since 2016 · 1k+ posts · 1k+ votes
5y
@Moly Yang I don't believe there is a law that requires a buyer and seller to use an attorney or title company to close, but it's just best practice to use them on all transactions. It's definitely not worth the savings to do it on your own. You would only save the cost of the closer and the title searches because the government fees would be charged to you by the county when you go to record the transaction. The title insurance is optional but I always purchase it. That said, without the title searches how do you know you're purchasing a property that the county will transfer? What are your protections against purchasing a property from the wrong, or partial owner? The risk is not worth a few hundred dollars saved.