Home Selling in San Antonio>Question Details

Rhee, Home Buyer in San Antonio, TX

We have a buyer wants to buy our house in cash. How to transfer the title to her?

Asked by Rhee, San Antonio, TX Wed Feb 23, 2011

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Dianne Y. Ayala Steffey, MBA, CLU, ChFC, NMLS #267658’s answer
I would advise you to contact a realtor or a real estate attorney that would charge you a flat fee for putting the contract together. The contract would be receipted at a title company where the escrow officer would do a title search to ensure that you are able to transfer title without any encumbrances or title problems. Also, if you have an outstanding mortgage lien, title would pay this off once your transaction funds or when the cash has reached the title company's bank. It's advisable for the Buyer to get an owner's title policy to ensure clear title and to have that guarantee of that transfer of title. It's about 1% of the purchase price or to get an exact figure based on the purchase price, you can go to http://www.missiontitle.com to find out the cost of the title policy. This is usually paid by the Seller, but this is a negotiable item.

Rhee, the bottom line is to treat this transaction the same as if the Buyer was getting a loan from a mortgage company. Do not take any chances by going on the cheap just because the Buyer is paying cash.

If you have any questions, give me a call and I will be happy to help you with the process.


Dianne Y. Ayala Steffey, MBA, CLU, ChFC, NMLS#267658
Your Personal Mortgage Consultant for Life!
Sterling Mortgage Services NMLS#373771
2929 Mossrock, Ste 222
San Antonio, TX 78230
210.349.1544 fax
210.831.8749 cell
1 vote Thank Flag Link Wed Feb 23, 2011
The form of payment makes no difference to "how to transfer title". Although you could use various Deeds, the proper vehicle for the buyer is to receive a Warranty Deed and to buy Title Insurance for the value of the Property. Whether buying for cash or with a mortgage, the same general principles should apply.
1 vote Thank Flag Link Wed Feb 23, 2011
I assume you have no real estate agents involved. This answer depends on the state rules. All sales are a contract, so you need the advice of a lawyer, title company and/or realtor. You can end up in serious financial trouble if you don't. In most states there are a number of disclosures that must be performed and signed, so unless you wan t to be held responsible for roof leaks five years from now, use the professionals!
1 vote Thank Flag Link Wed Feb 23, 2011
I agree with everyone else and must also stress that the serivces of a title company are crucial. Both parties need to be protected by title insurance, so call a few title companies and get the best rate.
Have a Blessed Day!
0 votes Thank Flag Link Fri Mar 4, 2011
As I told before, Go to the Professionals. This issue is not for amateurs ........
Mary Furgason @ Chicago Title has done an excellent work for our clients, they are very reliable and competent.
I wish your deal goes well.
0 votes Thank Flag Link Fri Feb 25, 2011
Hi Rhee

Prudent for you to get in touch with a Real Estate Lawyer or Open Title at.a Title company
Such as Chicago Title Company or Old Republic Title and go from there.

Good luck.
0 votes Thank Flag Link Thu Feb 24, 2011
Hi, Rhee,

If transferring Real Estate were easy, there wouldn't be so many Title Companies and Real Estate Attorneys in town. There are MANY issues that can expose you to liabilities and financial loss.

Most agents will draft the contracts for you and supervise the details for a small fee. Make sure that you are dealing with a competent and experienced agent, not a newbie. Your agent will recommend a good Title Company that can handle all the Title Search details, and gather the necessary closing documents for both sides.

You will want to protect yourself and the Buyer with Title Insurance (cost = about 1% of the price) and you will want to make sure that you have made and documented all the proper disclosures. There are many other "Risk Management" tools that your agent can provide for you that will protect you later if questions arise.

Don't try to do it on the cheap - you might find that is the MOST expensive way to handle your financial affairs. There are too many traps in Real Estate transactions that can be VERY costly. Get some help.

Good luck,

Doc Stephens, REALTOR
0 votes Thank Flag Link Thu Feb 24, 2011
Contact a dependable title company in your area. They will do a title search for you to see if the title to your home is free and clear. Then they will prep the paper work for you and the buyers to sign at closing.

Of course they do charge a fee for those services :)

Frank Zhu
0 votes Thank Flag Link Wed Feb 23, 2011
1. Do you have a loan or other lien on your home?

2. Does the buyer wish to have title insurance or a title search?

If the answer to both of the above questions is yes, then you'll need the services of a title company or fee attorney. If the answer is no, you can always hire an attorney to draft a deed and facilitate the transfer of the property to the buyer in exchange for the cash payment. You certainly don't have to use an attorney or a title company although not doing so would be foolish unless you and the buyer have considerable experience in these types of business matters.
Web Reference: http://www.phgbrokers.com
0 votes Thank Flag Link Wed Feb 23, 2011
The best thing to do is to use one of the many local title company's available in San Antonio and get a title transfer. They will make sure that title is transferable and record the deed at the court house. Give a call and I can get you with one of our partners

Jonathan Leos
"1%Homebuyer Rebate"
Web Reference: http://www.myhomeinsa.com
0 votes Thank Flag Link Wed Feb 23, 2011
Call a local title company or get in touch with a real estate attorney.
0 votes Thank Flag Link Wed Feb 23, 2011
GO to a Title Company or to a Real Estate Attorney, do not take any unnecesary risks.
Web Reference: http://www.thebeyerteam.com
0 votes Thank Flag Link Wed Feb 23, 2011

I am both a real estate attorney and a Realtor, and I can draft the paperwork for you for a flat fee. Email or call if you would like some assistance.
0 votes Thank Flag Link Wed Feb 23, 2011
Very simple -- go to the your local title company and let them handle the logistics.
0 votes Thank Flag Link Wed Feb 23, 2011
Go to a title company - I suggest First American Title (210) 222-1500 ask for Stepahine Wright (escrow officer). Here to Help !
0 votes Thank Flag Link Wed Feb 23, 2011
Why not consider consulting with an attorney who specializes in real estate for all related documentation...
0 votes Thank Flag Link Wed Feb 23, 2011
Have you negotiated who will pay for, and if a title policy is part of the contract? Did you use the TREC form?

I would always consult a Realtor. If you need to purchase a home, and if the Realtor could collect a commission from the seller of the home you will be purchasing, you should be able to find a Realtor who would check over the current contract for "free"

Congratulations! I would be interested in the address and what price you negotiated/agreed to for the sale. You may have saved thousands, or you may have left thousands on the table.

If you have further questions please do not hesitate to call:

Web Reference: http://www.halfpriced.com
0 votes Thank Flag Link Wed Feb 23, 2011
The transaction would be handled just like any other purchase transaction. You may want to pay a Realtor a flat fee to work up the contracts for you but all you need to do is go to a title company and they can help you with what needs to be done to facilitate the transaction.
0 votes Thank Flag Link Wed Feb 23, 2011
Just go to any title company... I suggest Amanda Tidmore at Providence Title. (210) 495-0396

Easy as pie!
0 votes Thank Flag Link Wed Feb 23, 2011
The normal preceedure in Calif. if to go to a Title Company and they
will help you with the transaction. You can also have a Real Estate
Agent prepare the paper work and then take it to a Title Co. The
Agent should do this for a small fee.
0 votes Thank Flag Link Wed Feb 23, 2011
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