Owner financing contract
I am looking for a standard contract for owner financing. I have found my first property FSBO, and really need some help. 6 city lots w/ 3BR 1BA mobile, plus stoage building for an insanely cheap price. I would really appreciate any help from the pros I have found on this site.
Thanks
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button@arkwest.com">button@arkwest.com
Hey button!
Sounds like you’re on to a good thing!
Only advice I have is to find a good creative real estate attorney and start developing a relationship with him or her. This deal and the owner-financing contract will be the first agenda of that relationship.
Don’t think that you will find any standard form on the Web or elsewhere that will replace a good attorney. This early in your investment career you have best interests to protect that you probably never have even considered. You’re infinitely better off to shell out a few bucks now rather than have heartache later.
FYI, I don’t like paying for legal guidance any more than anyone else!
wgheisler
button i use a tittle company for closing on my property even though i sell owner finance. the property is not transfered to the buyer untill the contract is completed and i make the buyer pay the closing cost to the tittle co.
Iceman,
The first thing thst struck me is WHY THE CHEAP PRICE!! In your state are there disclosure requirements ( haz mat, radiation, and so on ). Did you ask those types of questions.
Hope so!
Harry