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View Full Version : Considering a FSBO & Owner Financing


jinky
Jun 3, 2009, 12:04 AM
I have had my brother inspect the home and know that it is a fixer upper. I'm in AZ and the home is in SC. Does anyone know what the real estate laws are in SC? Can I just hire and escrow and title company to take care of the paper work? I know some states require an attorney. I don't know if SC is one of them.

Also, what are some of the things that I should have on my list of "to do" things for purchasing from a FSBO? I know that there should be a title search. Other than that I'm not sure.
Any advice or suggestions would be appreciated.

Couchcarrot
Jun 7, 2009, 06:42 PM
There's helpful information and a checklist at the web site below for buying a home that's For Sale By Owner:
(Just click on the appropriate links)

Assist-2-Sell, North America's Leading Discount Real Estate Company (http://www.assist2sell.com/widge/a2sselling.aspx)

It's always a good idea to retain a Real Estate Attorney to check over
All your paperwork and appear at the closing with you. It's better
To have an outlay of $150-300 or so for that, rather than have something
Come up in the future that's much more costly and possibly disastrous.

Fr_Chuck
Jun 7, 2009, 06:47 PM
Unless your brother is trained, you get the home inspected by a home inspector for fondation, beams in the floor and roof and more. A fixer upper that turns out to need a entire roof or subfloor may ot be as good deal.

Next you get it officially appraised, with home values going down so much and the difference in the area, you make sure what the values are.

And with a owner financing it, I would never sign a thing without an attorney going over their paper work.