Buying a house that is for sale by owner?

I am purchasing a house from my mother-in-law that I know is in good condition. I know that she isn't going to rip me off; she is actually giving me and my new husband a great deal. We are in the process of getting a loan through a well known bank. The bank told me I would need a closing agent or title agent. What exactly would a closing agent or title agent do? Which one of them should I chose Closing or title agent? Approximately how much will this cost? Thanks for the help in advance!!Buying a house that is for sale by owner?
Closing agents and title agents are the same thing. Basically, the closing agent will prepare all the paperwork and make sure all loan conditions (appraisal, survey, title insurance, inspection, etc.) are completed prior to closing. Fees vary by state, but you should expect to pay a few thousand dollars.Buying a house that is for sale by owner?
you do need to go through at least one office to finish the process, like the said, someone to check the title and do the final paperwork. it shouldn't cost more than a few hundred and the seller might even pay for it.
You will find a closing agent at a title company.Look up some Title Companies in your area.They will take care of all your needs so you can purchase the property.
Somebody has to prepare paperwork, and see that all the formalities have been taken care of. The bank will still require some things, like a title search.





You could call a couple and ask them exactly what services they provide, and how much they'd charge. Be sure to tell them you're buying from a trusted person so don't have to be worried about protection from the seller.





The bank should be able to tell you what they'd do, and mighr even give you a couple names.
Title companies all provide basically the same service, but the cost can vary, so check around.





The reasons you want a title company involved: The title company will perform a title search, meaning they will check for any liens, clouds or encumberances on the title. If there are problems, the title company will inform you and they will try to remove the problem. You have to have clear title in order for the title to transfer, and to receive title insurance.





The services are not expensive, expect to pay less than $500 for the title company.
What state do you live in?





Varies state by state!





Terry S.





http://www.Welcome2Arizona.com
A closing agent (escrow officer) is an independent third party that makes sure all items necessary to close a transaction between a buyer and seller are handled properly. They basically follow instructions given by the seller, buyer, and lender so there are no discrepancies. The escrow company usually employs a title agent to research the property and make sure that the chain of ownership is legal and complete.





There are several different Title/Escrow companies out there that are reputable. The costs vary by company, and pricing depends on the size of the loan and how many loans you are obtaining for the purchase, but escrow companies are usually pretty competitive with each other.





If you'd like, I can recommend a couple of nationwide companies that I use on a regular basis as both a REALTOR庐 and mortgage loan officer.





I hope this was helpful. :-)