On Mar 25, 12:05 am, wrote:
I am buying a small house not in the best shape but anyway. Never owed
a house before.

The real estate guy is nice but how honest and smart he is - I don't
know.

What do I have to do to handle this purchase as best as possible?

What I know is that

1) I pay a deposit, (couple of thousands) and then monthly
installments. So, I need a contact for that and a receipt, right?

2) What do I need to make sure that I really get the house? I sign a
purchase agreement for the house? Who prepares it? Who signs it?

3) I pay the real estate guy or the owner? Or depends?

4) I need title insurance? When is the best to get it? Same day, I
purchase the house?

5) What about a warranty deed?

6) Do I have to go to local agencies to inform them that I am the
owner? Do I have to sign papers with them?

7) How can I find out if unpaid taxes or lien or other stuff is on the
property? And do I need an insurance against that too?

Did I forget something?

Joe

P.S. Thanks for the answers to the other thread with the noise
reduction. Some gave good advice.


Others have given good advice on mortgage broker and lawyer, but, I
would add that you might want a separate property inspection to see
what it might cost you to fix house that is "not in the best shape."
Otherwise you could be buying a money pit.

Frank