Owner Financing questions--

[Lori Vines]

Hi all, 

I have an opportunity to work an owner finance deal for my Seller client.  We have secured a qualified buyer and both buyer and seller have come to terms (price, down payment, int rate, amortization, closing date etc) so my questions lie in the 'how to' technicalities since I've only ever done traditional.  

1) Do I need to find an 'investor friendly' title company to handle this? (We're in Austin, Texas)

2) are the taxes usually paid in the owner financing monthly mortgage payment? (seller prefers it this way so they know they are paid. and the new owner gets their own home owners insurance?

3) Will the title company prorate taxes etc like they do on a traditional transaction??  

Basically, I'm concerned about the 'how to' part of the deal.  I have the parties, the deal, and terms that are agreed on but I'm not sure of the sellers closing costs and I want to put together a net sheet so its clear.  Seller would still pay for owners title policy and doc prep I'm assuming, but since no lender is involved would an investor friendly title company have an atty draw the docs up and/or close it?

Any practical 'how to' advice or best practices is appreciated.  Or people here in Austin that I could talk to that could walk me through the process?