I'm buying an apartment with cash. What now?

Question

I want to buy a property. I have the cash in hand. I've already done the leg work of finding multiple suitable places and just need to schedule to see them.

Let's say I walk in and I like a place and want to put an offer. What then?

I guess I'm looking for step by step directions:

- How do I put the offer in to the seller since i don't have an agent?

- Where do I find the offer form?

- The seller accepts and I schedule an inspection

- I get addendum and P&S from the seller

- I get the P&S reviewed by a lawyer

- Seller and me sign the P&S

- Seller cashes my P&S deposit

- Does this go to escrow?

- Can I tell the seller to give me the 3% he would have given to my agent if I had one?

- Who does the document searches? Titles, liens, tax etc...

If anyone knows an office in the Boston area that will do all of these: Place offer, schedule inspection, review P&S, search documents etc...

Thanks

Answer 1

Get an attorney now.  They’ll be able to provide you with for form for your offer.

I’d personally want an agent since it doesn’t cost anything to have one. Not having one just puts extra money in the listing agent’s pocket.

Answer 2

First of all I suggest you get a real estate agent to help you.  It doesn't cost you anything if the sellers are already represented by an agent, because either the listing agent gets the entire commission, or it is split between your agent and the listing agent.  Only when both buyer and seller are not being represented do you save on realtor's fees, unless you are a licensed realtor yourself.  

That being said, you put in your offer (with an inspection contingency) and see if they take it.  You can write up your own offer on the computer if you want, there isn't a certain form that goes with it, but find out the actual name of the property, the street address does not suffice as a description of the property.  They may give a counteroffer.  You are free to accept or reject this offer, or counter the counteroffer.  If an agreement is made, then you set a closing date and go from there.  If the inspection uncovers something that makes you change your mind about the property, then you can back out or renegotiate with the sellers.