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Old 04-28-2013, 05:07 PM
 
2 posts, read 1,902 times
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I have been offered a deal I can't refuse but my cards must all be in place to do so. I have been offered to buy a property at a great discount (half or less than worth) in exchange for letting the owner continue to live there. He cannot take care of the property any longer and his children do not want it. He received the property from the spouse through a will but the lawyer misplaced the deed. He has paid all taxes on said property since the late 70's. I need to know what paperwork will be needed by him and us to buy the property outright from him and it be totally legal. I need all my T's crossed and I's dotted so that this will be a binding deed and contract.
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Old 04-28-2013, 06:15 PM
 
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You need a real estate attorney. You might start out at the local title company and ask theirs if possible.
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Old 04-28-2013, 06:24 PM
 
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I do know which lawyer he used to draw up a deed when his spouse died. I wonder if he can help.
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Old 04-28-2013, 08:16 PM
 
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You could use the same lawyer, but I would go along with what ETex2 said and contact a title company. Several in Tyler. I was once a real estate broker in Tyler, so this might just be the best route for you. Good luck, hope all works out well for you.

OK, as I thought about this more, make sure you have a home inspection from a certified inspector, and of course a buyers title policy from a title company. I'm sure the realestate attorney would advise you of this and much more, like to use the state of texas real estate forms for the tranaction.

Last edited by Mark Senior; 04-28-2013 at 08:24 PM..
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