Where can I get owner finance legal docs?

lucy_862 · Joined: 06 Oct 2008 Posts: 1 1.64 Dollars($)

i would like to sell my house owner finance but don't know where to find the forms

elnoralittle · Posted: Mon Oct 06, 2008 12:21 pm Post subject:

I would assume that you would hire an attorney to draw up the note for you. A title company or Title Attorney could prepare one for you. You want to make sure that you follow everything legally and make sure there are no holes in the agreement.

Cover your bases...hire someone to do it for you.

I would also assume you would need to own the property free and clear.

Guest

I owe $74,000 on my mortgage, I have my home for sale and someone
has asked if I would owner finance because they can't qualify for a loan
with a mortgage company and explained their reasons to me. But, I am
not sure how this works and even if I would want to consider this. Is it possible to do with a balance owed? Thanks for your help

Guest

also, is wrap around mortgage the same thing as owner finance?

Guest

I am interested in doing owner financing. This house I am intersted in has had some repair work done on it. How should maintenance be on owner financing? Is there a contract that I could do to protect the buyer? Question

Guest

The owner of the home still owes on home about 10 more years but he says he will let us take over payments and the home will be ours when it is paid off. Can he do this since he still owes bank note and can you get leagal paper work for such agreemnet. Thanks

eric1 · Posted: Thu Aug 27, 2009 5:08 pm Post subject:

I do not believe that will work. Get an attorney involved.

Guest

I am interested in a home and the seller will owner finance,he wants what is owed on the home which i believe is a fair price do we need to open a escrow or can we do this on our own,i cant get financed for 18 mths so it will be a short term owner finance,whats the best course of action ....Thanks

gmakerley · Posted: Wed Sep 09, 2009 8:25 am Post subject:

rick you will want to have an attorney work this out for you. you need to be protected, and the purchase of a home is way too complicated for you and he to do this on your own.

one of the things your lawyer will do for you is to ensure that there are no other liens on the property; after all, every lien must be paid in full in order for your title to be valid.

it sounds a little like it's too good to be true. be careful, no matter what.

smithsara302 · Joined: 12 Jun 2009 Posts: 116 -0.18 Dollars($)

Hire attorney is better option

gmakerley · Posted: Wed Sep 09, 2009 9:18 am Post subject:

well...

Guest

My brother owns the family home and he wishes to sale with owner finance. At what point do I get the deed to the house and do I need to hire my own lawyer to look over the paper work

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1737 36.13 Dollars($)

It is a good option to hire a attonry to make sure you have every thign covered legally

This is good for both seller and buyer

savior70 · Posted: Tue Oct 13, 2009 4:25 am Post subject:

To leigh,

You should surely consult an attorney before signing on the owner financing agreement. It is important to get the agreement reviewed by your attorney to make sure that the terms of the agreement are not against your interests. You will get the full title to the property once the terms of the agreement are executed satisfactorily.

gmakerley · Posted: Tue Oct 13, 2009 9:51 am Post subject:

lawyers ought to be thanking us....yes, if the thought even enters your mind that you might need an attorney - hire one!

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