First Time Using Owner Financing

4 Replies

Hey guys I am about to use owner financing for the first time. I have ran all the numbers on the deal 1000 times and am satisfied. The property is owned by a young Realtor and this will be her first time as well. What paperwork do I need to have and documentation do I need to insure I am protected? I don't want to miss something and my down payment disappear. 

@Samuel Fletcher Hardy this is a very broad subject and as mentioned above you will need good legal representation.  In Texas, many title companies have an attorney specifically for this type of thing.  I don't know if it's the same where you are but I would try a title company or 3 first to see if they can help.  Good luck!

Originally posted by @Andrew Postell :

@Samuel Fletcher Hardy this is a very broad subject and as mentioned above you will need good legal representation.  In Texas, many title companies have an attorney specifically for this type of thing.  I don't know if it's the same where you are but I would try a title company or 3 first to see if they can help.  Good luck!

You've seen fee attorneys do owner financing docs? I don't see them creating lender documents.just conveyance.

 

@Ronald Rohde hmmm, I have first hand seen notes and deed of trust documents created by an attorney at a title company.  Not sure on the other documents that might have been needed.