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Updated almost 2 years ago on . Most recent reply

User Stats

24
Posts
7
Votes
Mergim Kacija
7
Votes |
24
Posts

Looking for attorney to draft a creative finance deal (Missouri)

Mergim Kacija
Posted

Hello, 

I am in the process of selling my home to a buyer via a wrap + seller-finance note and looking for an attorney to help on the paperwork. 

The deal structure looks like this: 

Sale Price: $450k

Down Payment: $50k cash

Current Mortgage: $300k DSCR @ 7%, the new buyer will take over this liability (first lien)

Seller-Finance Note: $100k @ 10% over 10 years (second lien) 

Any recommendations would be greatly appreciated, 

Thank you, 

Mergim

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