Off-market means no listing agent did the homework for you. This checklist is that homework, nine checks that catch practically every expensive surprise.
KEY FACTS FROM THIS GUIDE
- Earnest money belongs in title company escrow, never a personal account
- Assignment fees are paid on the settlement statement, or they are not legitimate
- Texas Prop. Code 5.086 requires disclosure of equitable-interest assignments
- An owner title policy covers forgeries, missed liens and chain-of-title defects
Property condition (checks 1 to 3)
Professional inspection or contractor walkthrough during the inspection period. Sewer scope on anything older than 1980, the $150 camera run that prevents the $15,000 dig. Roof, HVAC, panel and foundation get individual attention: the four budget-breakers.
Title and legal (checks 4 to 6)
The title company‘s search catches liens and ownership defects, that is what you are paying for, and the owner’s title insurance policy backstops it. Confirm property taxes are current or accounted for in the deal. Verify permits for any obvious additions; unpermitted work becomes your problem at resale.
Audit us with the 3-question check, then decide. Written numbers, licensed title company closings, zero pressure.
Market reality (checks 7 to 9)
Verify the ARV with your own comps, not the package’s. Check days-on-market for renovated inventory in the zip. For rentals: confirm the rent assumption with two local property managers, ten minutes of calls that validate the whole pro-forma.
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