Owner Financing / Wrap Around Question
Hi
I would like to sell one of my properties with owner financing. I have an existing mortgage on the property and my taxes and insurance are escrowed monthly.
My question is regarding the taxes and insurance.
Do I need to do anything specific regarding the taxes or insurance? Do I keep them escrowed and in my name?
Do I need to add any names or entities to the insurance?
Any advice would be greatly appreciated.
Thanks
Paul
This is a wrap well then you still have to pay your first and this is inclusive of your insureance and taxes right so do not rock the boat
Have your buyer do the deal and they pay you so you know the stuff is payed and then when they want to cash you fully out they can have the deed and everything