Legal Question in Real Estate Law in Maine
Real Estate
I want to purchase a house in cash from the owner.
What kind of contracts or whatever do I need?
1 Answer from Attorneys
Re: Real Estate
You need 2 stages of legal assistance. Firstly, you will need to present (or sign the Seller's form) a written Sales Agreement that will establish the timeframe for Closing, and the respective rights and responsibilities of the parties during the contract period. Second, you will need title work done to determine the legal status of the title, followed by a Closing to obtain good title when the money is paid. It is the buyer's responsibility to attend to the title work and closing. I strongly suggest you engage an atty to do the work for you as this is likely a large investment and the closing legal fees are just a cost of doing business. Feel free to follow up directly with my office to assist, or we can refer to you a reputable real estate lawyer more local if we cannot help you.