Buying a house ';for sale by owner';. how does it work?

I found a really nice, small house for sale by owner(a minister actually). i'm a first-time buyer so how does this work? walk me through the steps if you can!


how much cash will we actually have to pay up front?(not including the mortgage loan or down payment)Buying a house ';for sale by owner';. how does it work?
The only other thing to pay is the closing cost. And the who ever is doing your mortgage will tell you how much that is. A lot of the time, they will include your closing cost into the mortgage loan, so that you don't have to pay it up front. Other than that, you should only have to pay the down payment.Buying a house ';for sale by owner';. how does it work?
I bought my house from the owner, we went to an escrow company and set up the terms and all we came to agreement on, they made up the papers , searched the title and all the rest, it cost me about $2,000 because he demanded I had to pay all escrow fees. I got a really good deal, the man was moved by my origin to give me one, but beware and watch yourself that you dont get robbed. I suggest you pray to your origin, ie God for assistance.
Every home we have sold or bought ';for sale by owner'; went by the same guidelines as buying from a realator. We asked for 10-15% up front depending on the home and YES we can and have checked credit worthyness. We had our attorney draw up paperwork with the interest rate and all the legal ';jumbo';. We wrote in what we would be responsible for what the new owner would be responsible for such as if the house needed a new roof we'd have the contract reflect that we were installing a new roof or we'd deduct the cost from the sale price. However if your doing it on a ';land contract'; things will be different. My husband usually handles all this I just pick the homes {I flip houses} and he does the rest also doesnt hurt that he owns his own construction company so he knows what should be done. You can however contact a realator and they can in return contact the owners on your behalf. yes they have a fee though