Like Iggy, we recently bought a house at auction, next door. Unlike Iggy, we are going to own it less than 24 hours. We close in four weeks and have a buyer on a contract for deed.
I just shook hands with Bill on a price plus costs to set up the contract. This is a person of extremely high character. Neither of us would dream of cheating the other. After all he'll be my new neighbor.
Any advice on setting up a contract? What needs to be in it? Do we need a lawyer, or can a local realtor or similar set this up? What costs are involved?
Karl