Questions About Documents Needed???
I'm going to owner finance a piece of property to a couple until they can find some decent financing on their own.
I know I need a contract, promissory note, a deed of trust from the buyer to seller....but what do I deliver to the buyer??
A warranty deed? and/or what else?
I have a mortgage on this property, and I'm concerned about the DOS clause. Can someone please explain to me how I should proceed??
Do you know these people's payment history? Maybe you should lease with an option to buy until they get financing. Starting right off the bat with a land contract could mean a costly and lengthy forclosure if something goes wrong.
Brenda
I've checked their credit. They have no debt other than a piece of property they own and will either rent or sell.
Plus he's offering me a hefty down payment. As tedious as this guy has been about everything, I feel very confident that I found some really decent folks.