Does anyone have experience executing seller financed deals in NJ?
Is it necessary to work with a real estate agent in NJ for a seller financed deal if you've already identified a possible deal with a seller?
Also, does the real estate attorney put together the contract and promissory note or are there different professionals involved?
I bought my primary residence with a conventional mortgage, but I want to understand how a seller financed transaction might work/differ.
I'm an attorney in Illinois, and I can tell you that in my experience that the seller's attorney will usually put together the contract and the promissory note terms. A great place to start for this would be contacting the local bar association for your area and seeing if they have a template form sitting around for these documents. That's what nearly all of us in Illinois use as a first step.
I hope that helped.
Thanks!This helps to point me in a direction. I appreciate the response.