<prompt> Human: My grandparents have moved into a retirement home and I am buying their old but well-maintained and remodeled house that they bought back in 1989.They have agreed that theytheir estate will carry the note and I get an interest rate of 2.25, which is this months Applicable Federal Rate. I am having an attorney who specializes in probatetrust and real estate law oversee the transaction, although I may also consider doing a lot of this myself through National Family Mortgage, who can handle the mortgage payments and register the loan with the county recorder so I can take advantage of the mortgage interest deduction.My concern is that I want to expedite this as much as possible, because I dont know if the AFR will rise next month 2.25 is pretty damn good. I am very familiar with the property and all the work that has been done to it indeed, I helped with some of it, and Im also familiar enough with the property that I would be very surprised if there were any liens or encumbrances that would come back to bite me. My wife and I are also very savvy savers that I dont think we would need an escrow account to pay the taxes and insurance, as we can set money aside for that directly. Given how much time this takes to set up, Im wondering if I can skip all this and just get the appraisal, promissory note, and other associated paperwork done without all the extraneous stuff that usually goes with having a bank or mortgage lender involved?I am, of course, going to bring all of this up when I talk to my attorney, but I wanted to see what PF thought. EDIT: Please see the section labeled Full Sale Price with Seller Financing here as well as the article here to get an idea of what I am trying to do.  <response>: Home inspection? Thats just money if somethings wrong -- maybe you can bear the risk -- but a title search is absolutely required. 