Selling land onwer finance

[Raul Flores]

Guys

I would like to sell a land owner finance, so I need to create a note.

My question is what steps do I need to do to create the loan contract or the whole paper procedure? I am located at Houston Texas.

I appreciate your answers.

Thanks.

Raul

[Wayne Snell]

If you’re selling the land in Texas be aware that Land Contracts  are frowned upon by the courts and while they not technically “illegal” most people and attorneys think they are.  At this point you definitely need an attorney to write up the contract using all the data @Dennis Weber mentioned above. Whenever possible it makes more sense to do a first position lien with the mortgage and note because Texas is such a fast foreclosure state.