Owner Financing Help!!!!
Could someone please help me out in the process of owner financing. I want to make an offer on a house with owner financing the house at 7%. What paperwork do I need (besides the title search and the inspection)? After I purchase it how would I go about it to make it in my name and when I decide to refinance the house with a mortgage company how do I go about it since the owner will carry the first 'mortgage'???
Thank you,
D-
I doubt anyone will give you a specific form here - as many investors have paid quite a bit of money for their legal forms in the form of attorney fees or by purchasing a program. However I have been through some office supply stores and seen similiar forms there. I believe the one you are looking for would be "Agreement to Sell Real Estate". Now I cannot comment on how many of the clauses in that form are good, what clauses you should add, etc. But from reading your post this would give you a good bit of information - more than you've got now. I hope that helps.
Ryan J. Schnabel