Trust your instincts and be ready to walk away if a deal appears too good to be true
Never send your personal information, address or money to someone you have not met in person. Your local coffee shop is an excellent place to meet. This is also a good time to verify the other party's identity
Verify the other party's identity by asking to see their Driver's License. If they don't have one, be ready to walk away!
As a Seller, it is always a good idea to have someone else at home when showing your home. And as a Buyer, try to have a partner with you when you view a property.
A Title company will verify that the Seller has the right to sell before they provide Title Insurance. And make sure you use a local Title company with an office location you are familiar with.
Do not wire money to a private account. Most Title companies will accept your funds and keep it in trust pending completion of the deal for little to no fee. Most law firms will also do the same, but usually at a higher fee.
As a Buyer, you are always responsible for carrying out your due-diligence on the property you are buying. As an example, for a very small fee, your City will provide you information on the current title-owner of any piece of property. Also, for a fee, a Home Inspector will give you a comprehensive report on the state of the house you are about to purchase. This is especially important if the house is being sold 'as-is'.
As a Seller, you are usually responsible for ensuring that a lawyer puts together the proper purchase contracts. Most Title companies usually include this as part of their service. As a Buyer, if in doubt, for a fee, you can engage your own lawyer to review the purchase contract before you sign.
