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Attorney2020, Lawyer
Category: CA Real Estate
Satisfied Customers: 2578
Experience:  I have significant experience in real estate law.
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Wanted to find out the minimum we have to do to purchase a

Customer Question

HI - Wanted to find out the minimum we have to do to purchase a home in california. It's going to start out as an owner carry / lease to buy with us financing the rest within 1 year from the start. The home is owned by friends of our but business is business. I've contacted an escrow company and there seems to be a lot of fees for things that are not necessary
Submitted: 1 year ago.
Category: CA Real Estate
Expert:  Attorney2020 replied 1 year ago.

What do you mean my ?minimum?"

Customer: replied 1 year ago.
We were told to draw up a Contract for Sale with all the details of the Sale. An Escrow wanted to charge a lot of money for a lot of extra - including a Tax Lien Search - etc. (we've already done that). But as we will be working with finance companies eventually, Other than the Contract for Sale - what else do we need to show a finance company? We're already working on getting an appraisal.
Customer: replied 1 year ago.
Did anyone ever respond?
Expert:  Attorney2020 replied 1 year ago.

Appraisal, credit report (typically done by finance company per finance company corporate policy). Through financing, the underwriter will have various conditions that it will require the buyer to meet based upon the circumstances and I could not ever guess what those would be at this point. The underwriter will guide you through the conditions process after pre-approval.

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