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ForumsArrowBuying & Selling Real Estate DiscussionArrowQuestion on Owner Finance Contract
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Question on Owner Finance Contract

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Check Rosette Top Subjects:
Team, Traditional Financing, and Residential
  • Posts 55
  • Votes 9

Riggies B tang

posted about 1 month ago

Hello. I own a property in Granite City, IL. I would like to enter an owner financing term with the buyer. I would like to know what kind of legal contract I can use for this kind of arrangement.

Thanks,

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Check Rosette Top Subjects:
Rentals, Team, and Analyze Deals
  • Posts 1.4K
  • Votes 864

Charles Carillo
Rental Property Investor from North Palm Beach, FL

replied about 1 month ago

@Riggies B tang

I would find a local real estate attorney that has drafted owner financing deals before and have them write one for you.

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  • Posts 16
  • Votes 6

Heidi Dunn
Flipper/Rehabber from Indian River, MI

replied about 1 month ago

Some title companies will write up mortgage agreements.

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  • Posts 23
  • Votes 3

Keith Winkler
Specialist from Collinsville, IL

replied about 1 month ago

Hi Riggies,

Phil Theis is a real estate attorney.  He owns Pontoon Title on Pontoon Road in Granite City.  He's written up owner financing agreements for me in the past.  I'm sure he'd be happy to do the same for you.  Please tell him I sent you.  Pontoon Title - (618) 931-6500‬

I'm also curious about what you have for sale?  Sounds as if you have a buyer for a property?  

Thank you,

Keith

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Check Rosette Top Subjects:
Team, Traditional Financing, and Residential
  • Posts 55
  • Votes 9

Riggies B tang

replied about 1 month ago

Thank you all for the value information. Keith, this is very helpful, I will definitely will contact Phil. Yes, I sold the property to my contractor. Question, would you mine sharing what terms did you enter with your buyer? thanks again.

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  • Posts 23
  • Votes 3

Keith Winkler
Specialist from Collinsville, IL

replied about 1 month ago

I PM'd you.

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  • Posts 9
  • Votes 5

Austin Gaines
Flipper/Rehabber from Troy, IL

replied about 1 month ago

I agree with Keith. 

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