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Old 06-01-2015, 10:12 AM
Location: NC
720 posts, read 1,484,531 times
Reputation: 1072


We are buying a single wide next door, which includes the 1/4 acre property. (To move my Mom into)
The owner is selling it to us for cash, no realtor involved, husband checked at courthouse and there are no mortgages, liens etc. against the property.The price is $50,000.00
So far, 2 different attorneys have quoted us $600 to make this sale legal, plus the sellers have to have an attorney or they will represent them for $200.00 . And that title insurance is REQUIRED.
Is this what we have to do to purchase? Seems like a lot of money.
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Old 06-01-2015, 10:47 AM
4,657 posts, read 7,704,188 times
Reputation: 4818
Pricing sounds about right to me.

You may have to reimburse seller real estate taxes paid in advance depending upon when you close.
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Old 06-02-2015, 05:35 AM
Location: Greenville, NC
2,078 posts, read 5,038,178 times
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No. The only legal requirement is a notary public to certify the signatures. Title insurance is only required if a lender requires it. There is no legal requirement for title insurance. We bought the house that we're in without a lawyer representing either side. Our lender (we mortgaged 40%) arranged all of the paperwork and even hired the notary public. The whole closing process only took 20 minutes.

That being said...

If you don't have a lot of experience doing this then I wholeheartedly suggest that you retain the services of an attorney. They will make sure all of the Is are dotted and the Ts crossed. They may see something that you would have completely missed.

Title insurance is a must and it is just plainly irresponsible not to get it.
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