Is there anywhere I can look to so that I can learn the process of properly self closing a deal?
Newbie here! Iv always used a title company but if I can save 1k on each transaction that would be awesome!
@ramrodd
Seth has a youtube video talking about the basics. Realistically you need a title search, and then to create a deed and have the grantor (seller) sign and notarize. That is it!
A quick examination of the vesting deed ans chain of title will show you if their is anything odd. If you see anything weird just go through title!
@ramrodd said:
Is there anywhere I can look to so that I can learn the process of properly self closing a deal? Newbie here! Iv always used a title company but if I can save 1k on each transaction that would be awesome!
Please provide more detail regarding your question. What type of transaction and why exactly you are interested in this issue?
And so, if you are interested in general terms, run through the forum and use Google to search for basic information. There are many posts and channels on YouTube with this information in the most detailed form.
@ramrodd as @GordonHamilton mentioned, it would help to hear more specifics about what kind of property you're talking about, whether financing is involved, etc.
The vast majority of real estate deals are handled by title companies and attornies for a good reason... because it can be a complicated job to get all the documentation right, make sure the title is clear, facilitate the transfer of funds, and deal with any legal issues that may come up in the process. If you're talking about a house, commercial building, or anything with a value higher than $10K... I would say it's pretty smart to leave this job to a professional closing agent because they'll do the job better than you, and it'll save you a ton of time (i.e. - it's very much worth the added cost and time in getting the deal closed).
However, if you're talking specifically about a vacant land deal, with no financing involved, on a property that is very cheap, that's when self-closing starts to make sense (assuming you know how to do your own title search, fill out the documentation correctly and communicate with all parties involved, etc). If you want to go down that road, this blog post may be of help.