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Old 03-07-2021, 04:16 PM
 
6 posts, read 24,255 times
Reputation: 12

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Hello,

I have negotiated a price to sell with my current tenant.

Now I am trying to figure out the paperwork needed to complete the sale in Montgomery Co, MD.

Any resources available? Any recommendations?

thanks
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Old 03-07-2021, 05:07 PM
 
2,080 posts, read 2,127,315 times
Reputation: 2372
Quote:
Originally Posted by longhorn1030 View Post
Hello,

I have negotiated a price to sell with my current tenant.

Now I am trying to figure out the paperwork needed to complete the sale in Montgomery Co, MD.

Any resources available? Any recommendations?

thanks
I'd hire a RE attorney to handle the transaction after your tenant provides mortgage pre-approval to show she's serious and financially able to buy the property.
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Old 03-07-2021, 05:43 PM
 
6 posts, read 24,255 times
Reputation: 12
thanks for the response...is this the same as getting a title company? I am bit confused as I am reading the title company will take care of it all once they receive the contract
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Old 03-07-2021, 06:22 PM
 
Location: Alexandria, VA
13,112 posts, read 23,509,751 times
Reputation: 20682
Read up on the Real Estate forum.
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Old 03-08-2021, 04:15 AM
 
7,909 posts, read 10,201,599 times
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Check to see if a title company in your area will handle the closing. The Buyer may wish to get an attorney, but there is less need for an attorney when you're selling--provided that the title company will handle the paperwork.
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Old 03-08-2021, 11:32 AM
 
Location: Bloomington IN
7,794 posts, read 9,929,956 times
Reputation: 20608
You need an attorney to write the purchase contract. The title company will need to know the specifics of the contract to do their work and charge each party appropriately.

That said, one of the larger title companies in my area offers a for sale by owner package. They will not fill out the contract or any documents, but they provide the needed forms, etc.

Might be worth calling around if you don't want to pay an attorney.
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Old 03-08-2021, 11:55 AM
 
Location: Columbia, SC
10,155 posts, read 19,865,215 times
Reputation: 8834
You've hired yourself as representation and you are in way over your head because you clearly have no clue. Do you feel you're qualified to handle the transaction for whatever your home is worth? The best advice I can give you is to either hire an attorney or at a minimum a low cost agent (not someone who just enters it in MLS, but will actually work for you). They'll still be better at this than you are.
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Old 03-08-2021, 01:18 PM
 
Location: USA
3,676 posts, read 1,638,434 times
Reputation: 10694
Hire a lawyer to do the legal work for the largest financial transaction in which you will probably ever be involved.

Do you fill your own tooth cavities? Remove your own appendix?
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Old 03-08-2021, 01:36 PM
 
Location: Columbia, SC
10,155 posts, read 19,865,215 times
Reputation: 8834
Quote:
Originally Posted by Brandon Hoffman View Post
You've hired yourself as representation and you are in way over your head because you clearly have no clue. Do you feel you're qualified to handle the transaction for whatever your home is worth? The best advice I can give you is to either hire an attorney or at a minimum a low cost agent (not someone who just enters it in MLS, but will actually work for you). They'll still be better at this than you are.
Editing my info. You already have a price with the tenant. Yes, hire an attorney to write the contract. The attorney fee should probably be paid by the buyer but it is negotiable.
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