Question : bought home for cash, what documents would I have to sign?
My question is not about during the offering, or negotiation stage of buying a home for CASH, it’s about what happens at the actual clsoing.

When you buy a home for CASH and you go to the attorney’s office to close, what documents would you have to sign? Do you sign the documents before or after you deposit the CASH into the attorney’s trust account?

Also, what protections do i have if I deposited a CASH wire transfer into an attorney’s TRUST account. Does the fact it is a TRUST account give me greater protections against fraud if say they attorney went bankrupt?

Thank you
home staging before and after

Best answer:

Answer by SG Elite
You should have the following properly documented:

1) Seller’s agreement to sell the said home for $ XXX amount (ensure the address is correctly indicated in the agreement).
2) Confirmation letter from the Attorney that $ XXX being the agreed purchased price has been handed to him to be placed in a Trust Fund and be released to the Seller only upon receipt of your instructions to do so; you will give instructions only after you’ve inspected the house and after handover.
3) Agreement to indicate date when the sale documentation would be completed.
4) Date of inspection of the house prior to handover.
5) Expected date of transfer of ownership from Seller to Buyer.

You need to exercise caution when dealing with cash transaction. You do get protection for money placed in Trust Fund. However, you need to ensure that the account number given to you is a Trust Fund account and not the attorney’s personal account.