Need to know the nuts and bolts of seller financing

[Pari Thiagasundaram]

I have a SFR that i would like to seller finance. Is there a website or a doc that outlines each and every step to do that ?

Where do i start the process ?

[Curt Smith]

If you finance to an investor, Dodd Frank is not in the picture at all and it;s a standard Note and mortgage.  Literally any closing Attorney has boiler plate notes and mortgages he'll edit up per your term, interest rate and late fee.  I suggest you use at least $120 late fee.  My notes started out with $30 late fee and the darn borrowers just considered that cost of convenience of being late!!  LOL

I wrote a terse ebook (1 page actually) on seller financing to an occupant following Dodd Frank.  PM me.  

No one is posting helps here because we are all worn out on the 1.5 years and zillions of posts on this subject.  LOL.  We're all pooped on the subject.  It's simple enough especially for a one off like yours to an occupant.  You have to be very careful in interviewing buyer prospects that they have good jobs, low debt payments and are credible and reliable payers.  Folks who don't qualify for bank loans can be good payers but often they are not.  Which is why they can't get a bank mortgage.  So you have to put effort into the face to face interview, credit checking (mrlandlord.com or http://www.ctcredit.net/tenant_screening.html) where you get the full credit report, fico, pays on time (or not) past rentals that you MUST match up with the rentals they give you on the application.  IE folks being evicted will drop past or current rental address from the app.  And so much more.  

There's more work in the step of being a landlord interviewing the buyer, than there is in originating the note.  So your focus should be on finding a reliable payer buyer.  Preferably an investor, but ok if an occupant.