Hi all, I am looking for a sample Owner Financing Purchase Agreement for CA that I can use on a potential deal. Is this a typical transaction can be closed by a escrow company? Or any Real Estate attorney can do it?
thanks for the help.
I'm not sure how different it is in Cali, but most real estate professionals either have a blank copy or know somebody who does. Lenders, real estate agents, title/escrow companies, real estate attorneys. I would probably start out with the attorney.
Hopefully @Shannon Wright can chime in as she's an escrow officer in southern CA.
Contact a local real estate agent, they will have a psa with seller financing terms available for you!
@Mark Pedroza , thank you!
Hi All, I can certainly help you close this deal and I tell everyone to "Google it" and they always find something. Legally, Escrow and title people should not provide forms for contracts but the rules of the contract are not like other states. As long as it states the basics, I can handle/clarify the rest on my escrow instructions.
Some search results provide for an Addendum to the contract for this term, which will also work. Use your standard purchase agreement form and add the Seller Financing Addendum for instances where you need it.
Some other search terms to use would be Seller Carryback and Seller Financing. Good luck and let me know if I can help you with anything else. :)
To add to the other comments: From what I understand, an agent cannot give you a blank contract because CAR forms are specific to licensed individuals and are a result of a paid membership required to gain access to the forms. If you want to use the forms an agent has, then hire an agent. I believe they have ramifications for releasing these to unrepresented parties, as well.
Also, the CAR forms can unnecessarily complicate some simple off-market deals and really create strict timelines and requirements because of the hard-coded language that cannot be redacted.
Simply put, if you're not using an agent, don't use agent-specific forms.
On the Biggerpockets main page go to Tools then FilePlace and then select Contracts,
Select the one that meets your needs @Riggies B tang