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I live in Texas and wish to sell my home and I wish to carry the note for the buyer, what steps do I need to take?

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kmylcraine Joined: 30 Apr 2010 Posts: 1 1.24 Dollars($)	Posted: Fri Apr 30, 2010 7:17 pm    Post subject: I live in Texas and wish to sell my home and I wish to carry Like 0 Dislike 0 I want to sell my home in Texas, I want to carry the note for the buyer. I wish to know what steps I need to take to do so.
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Sat May 01, 2010 2:32 am    Post subject: Like 0 Dislike 0 Hi kmylcraine, You are planning to go for owner financing. You will be holding the mortgage for the property and the buyer will pay the loan dues to you. You need to contact an attorney and draft an agreement which will mention the required terms and conditions of the mortgage. Both you and the buyer will have to sign the agreement and make it valid. In case the buyer defaults the loan, you will be able to take action against the buyer as per the agreement. Thanks

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