Updated almost 12 years ago on . Most recent reply
Owner Financing-Protecting Myself
Hello,
How are you? I am in the process of purchasing a few acres of land from a buyer. They are doing owner financing and I wanted to know what could I do to protect myself once the deal goes through. Would this be considered a promissory note or what sort of agreement could I have drawn up? They are a older couple so I want to make sure something is on file to continue with my payments if something were to happen. Could this be recorded somewhere, etc.? Is there a company we could use to keep track of payments, etc? I will not be using to cash to make any payments due to wanting to keep a paper trail. Any advice would be very helpful.