How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 54026
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
17027240
Type Your Real Estate Law Question Here...
Richard is online now
A new question is answered every 9 seconds

What's the process and documents needed to buy a storage unit

Customer Question

what's the process and documents needed to buy a storage unit from an owner in my condo building? i'm also an owner in the same building. also, should the date, name of the title company be established up front? At what point is the deed handed over (prior to making all or any payment) or at closing. must the title company be located in the same governing district/state as the property? thanks
Submitted: 7 months ago.
Category: Real Estate Law
Expert:  Richard replied 7 months ago.
Good morning Jody. My name is ***** ***** I look forward to helping you. Yes, you do want to name the title company because you want the title company to facilitate the closing. The selling party delivers a deed to the title company and the purchasing party delivers the cash (and/or a promissory note and mortgage document if part of the price is to be paid later). Once the title company has everything required from both parties, the title company releases the cash and note to the selling party and records the deed and mortgage document in the real property records of the city/county in which the property is located. That protects both parties. :) Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

Related Real Estate Law Questions