Seller Financing Property In Texas
Hi BP, I may have the answers to these but just want to make sure. Here's some context, I have a property in my home state of Texas that I would like to sell with seller finance. I own it free and clear and I pay monthly for HOA maintenance.
In seller financing, who is responsible in paying for property taxes, buyer or seller?
Who’s who will receive and who’s name will the tax bill have, buyer or seller?
If the seller responsible in paying property taxes, how should this be included with the terms?
Is it included with the monthly payment or should this be collected from the buyer when tax is due?
If the buyer is responsible, how do I ensure property taxes are paid to avoid foreclosure?
Same questions for the HOA fees.
I figured this would be my best option in getting me started, is there a better way?
Thank you all for the help.