Now you have a legally enforceable interest in the sale and everyone gets paid.

From what you have described here so far, I don't think you will have any problem putting together the needed documentation for either.You will also find, once you get into the commercial world, the 'down payment' becomes much less of an obstacle.

Bill Gulley Regarding "I've never heard of it costing more per person" in NC that is true with the legal complaint filing at small claims via the clerk of court, but the sheriff service cost is $30 per person in Wake county.

I haven't used it to create an LLC, but would use their service for this if I was doing a basic, small company setup.Anytime I'm creating legal docs for an entity that has a substantial amount of money involved or potential liability issues (i.e. pretty much any real estate venture I'm involved in), I use a lawyer.Lynn

•The actual process of purchasing a house, what goes into it, what legal concerns the buyer should have.

As Bill mentions, the increase of equity is documented formally through an appraisal on the Subject Property.

The more streamline you make your processes the faster work gets done and the less training is required to get things done.It's really good - Google drive converts documents, holds databases and files.

If the place has housekeeping or damage issues, we discuss what they agreed to in the agreement, document what they need to I do by when, and re inspect if needed.

If not I would stop until you have legal counsel.

If you remain on good terms with the seller, they can assist in getting the mortgage company to send documents and final payoff to the Title you will be using for the refi closing.