Is it a BAD THING TO ASK FOR A PROMISSORY NOTE TO BE SIGNED AND GET A COPY OF A LENDERS TO DO CHECK THEM OUT

5 Replies

I was wondering is it such a bad thing to ask for a notarized promissory note and a id before paying fees and that sort I just think I am trying to cover my own rear-end more paperwork the better I believe 

@Nathan Martinez  

welcome to the site.

Can you please re word your question? The wording makes it a little confusing as to exactly what it is your asking.

I do that so if people read my question they will ask me well I happen to believe in getting a promissory note drafted and notarized after we make the vebal agreement of the loan and terms and I also ask for a copy of thier State ID card so I can do my research on them see if there is any I need to know before I do the deal and make sure the deal will not change words wont get crossed and its for my personal file

So the question is "should a lender get an ID & a signed promissory note from a lendee?"

Yes, absolutely.

yes for records paperwork is the best thing to have I have been using a private money website and i feel it is necessary to have your own file of anyone and any who you are working with 

Originally posted by @Nathan Martinez:

yes for records paperwork is the best thing to have I have been using a private money website and i feel it is necessary to have your own file of anyone and any who you are working with  I have a draft that I try and get them to sign before any money changes hands so get mad and some dont answer back and  I  have a solid system to make the lenders money back faster than most

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