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-
Since you are still new to it you may want to call a title company and get the necessary paperwork. Have the lawyer there guide you through the process. If he/she is good you may want to keep that lawyer as you will need one for certain situations. You will need them or muddle your way through the transfer of deed, filing with the county The actual note, etc etc. If you are looking for a walk through of the process and prefer to do it without a lawyer ( I advise against it) then try the article search at the top of this page, there are a couple already posted.
Good Luck,
Kyle