A Wrap Around Mortgage

Pedrolo profile photo

I'm about to do my first wrap around deal, I got the motivated seller, I know how it works but don't know ALL the legal documents that are involve in this kind of transaction. Could anyone give some advise please. surprised

Comments(4)

  • nebulousd3rd December, 2003

    buy a course...Locke's course and call him when you get the manual in the mail.

    He can help walk you through the process.

  • Sandbahr3rd December, 2003

    Aren't you working with a lender? The lender should know everything and do the paperwork.

  • WilliamGA4th December, 2003

    I could give you a lengthy list of documents but it wouldn't mean much.

    The documents you are going to need are going to vary according to your state.

    Each state also has different requirements on whether or not these documents have to be recorded. The consequences can be extreme.

    Consult a real estate attorney in your area and tell him what you want to do. Ask around your local re club for a good attorney. Someone there will be able to direct you to the right guy.

    William Tingle
    WilliamGA

  • Pedrolo4th December, 2003

    I do really appreciate everybodies input, yes I'm the search process to find a professional advise on this.
    My concern is if I could do a kitchen table closing on this deal, just as a possibility but never thought about not getting legal advise on the matter.
    thanks

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