Wrap Mortgage vs. Land Sale contract.

2 Replies | Charlotte, North Carolina

Looking for an attorney who understands and can draft wrap mortgage documents for a purchase.  Possibly a land sale contract would be a better vehicle but not sure of the differences.

I am outside of Charlotte, NC.

Hi Larry,

Are you working with a broker? One might be helpful, if nothing else, to help advise on options available to you in the the transaction.  What are you trying to do?  In today's climate, if your not doing a larger deal with a loan of >$1MM, chances are your going to be doing looking to do a sale (possibly a land sale) via a contract for deed.  Feel free to connect if you want someone's brain to pick on the matter.  I've helped clients with both wrap mortgages and contract for sale contract agreements in the past.

Greg

Gregory Walter
Greg Walter Realty
www.GregWalterRealty.com

Originally posted by @Larry Rogers :

Looking for an attorney who understands and can draft wrap mortgage documents for a purchase.  Possibly a land sale contract would be a better vehicle but not sure of the differences.

I am outside of Charlotte, NC.

Thanks Greg for your response.  Might seem silly, but I have not been able to find an attorney who even knows what a wrap is.  Am I missing something or do you call it something different in NC?  If you can recommend an attorney, it would be greatly appreciated.