I'm selling a house in Oklahoma, a potential buyer wants a cash sale, how do I do the contract work?

Asked by Audrey Clark, Edmond, OK Tue Sep 8, 2009

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Jennifer Bla…, Agent, Owasso, OK
Thu Mar 14, 2013
Hi Audrey:

Did you get the house closed? I'd love to hear your experience as a FSBO, will you share?
0 votes
Josh Barnett, Agent, Chandler, OK
Sun May 6, 2012
1. At http://www.OK.gov/OREC you will find all the forms you need to put your agreement in writing.
2. Then follow the contract.
SIDE:
S1. If the buyer and you want, you can just exchange a warranty deed once the buyer wires their funds to your bank account.
S2. If the buyer wants title insurance, have them call the closest title company to your house (all title companies are the same) and open title.
S3. Once the title commitment is complete and inspections done, you both can schedule your closing.
3. Close and call it a day.

There are many ways to contract a close a home, these are some suggestions.

Hope this helps,

Josh Barnett, Realtor
Metro First Realty
0 votes
Daryl & Brig…, Agent, Garden City, KS
Mon Feb 15, 2010
If you are asking how to do the contract, chances are you are not to familiar with a Real Estate Transaction. Since you choose to sell your house without professional representation, you may be putting yourself at risk.
You can pay an Attorney to oversee the transaction, you can pay a Realtor to be a transaction coordinator, or you can just go to the Title Company yourself and hope for the best. But I would not advise you to just get a contract and fill it out if you don't understand what you are signing.
0 votes
Mike Bounds, Agent, Oklahoma City, OK
Mon Feb 15, 2010
Go to your local title company and ask for a blank contract. They are easy to fill out. Have the buyer give you a deposit (earnest money usually $1000 or more, if the buyer is serious have him give more). Fill out and sign the contract by both parties. Take the contract to the title company and get a closing date. You can split the closing fees 50-50 or have the buyer pay all. It's whatever you agree to. The title company will give you a date and an estimate of costs. At closing the buyer will need to bring a cashiers check for the remainder of the contract price. No need for any realtors or lawyers - it's a very straight-forward process. Bottom line - even though it is a cash deal you both need to be protected by a title company and title search with closing. Tell the title company it is a cash deal and they may be able to close sooner - may in 10 days or so.
0 votes
John Stimson, Agent, Oklahoma City, OK
Tue Sep 15, 2009
I'd be more than happy to discuss with you the proper way to write up a contract for a cash offer. Feel free to call me or shoot me an email.
John Stimson
405-474-1405
johnstimson@cox.net
0 votes
John
I have a house that I am going to sell. I have a buyer that may finance the house. What is the process if not a cash deal? I just bought a new construction house so I have seen the disclosure stuff. I just don't know the process if the buyer finances.
My email is tommymccarver@gmail.com .
Thanks for the help in advance.
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