Your assuming the sellers hire an attorney to represent THEM at the closing.....Most of the sellers I deal with don't....My attorney prepares the deed for them....I wire the funds to his clients account a few days before the closing so the money is there before they even sign a page.
I can understand why you've never had a transaction like this. The fact is, almost ALL real estate transactions involve FINANCING. WITHOUT a bank involved the deal is much faster. The seller needs no legal representation at a closing, unless they want it. We've agreed to a price in writing, I've also agreed to pay the closing costs. If they see something different on the HUD than we agreed to, they don't have to sign it...Without their signatures....There is no sale...They show up with a picture ID and they pickup their check as soon as my attorney calls his office to say we're on record. NO BANKS, NO REALTORS, NO BULLSH*T...I've done DOZENS of these deals and pay CASH for all my properties. NO financing involved.
The properties I buy are all in need of repair and frankly....The SELLERS are happy to have found a CASH BUYER for them!! Because BANKS won't go near them!!
AHHH YES.....There's that term again....
CASH BUYER!!!!
Oh that's right, I forgot....."It's NO BIG DEAL in the VIPER WORLD."
WOW....... REALLY?????
I guess the PM's I'm getting must be from sellers who don't know this!
OK.....Let's all say this together now.....
DOUBLE DIP RECESSION!!!!
I'm sorry guy's.....Just some good natured b*ll busting. No disrespect intended.