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Updated about 9 years ago, 10/18/2015

User Stats

90
Posts
75
Votes
Chris Mackinlay
  • Midland, TX
75
Votes |
90
Posts

Help with contract details

Chris Mackinlay
  • Midland, TX
Posted

Hi everyone,

I am relatively new to this. I've taken a class (lots of unhappy feelings there) which initially piqued my interest and then listened to several podcasts and have been reading on the forums on and off over the passed couple years. 

One of the things the class taught me about and the podcasts nurtured was mobile homes in general. I am interested in purchasing a mobile home and doing a rent-to-own scenario with the tenant/buyer. I have the people in line to do repairs to the home, so I'm not worried from that standpoint. 

All of that to ask...and this is probably a novice question....what do I do with the signed agreement between myself and buyer? Who do I give it to?

Do I need to have it notarized?

Do I keep the title to the home while the buyer makes payments or give that to the buyer up front?

Maybe a better way of asking: could someone do an outline of the people involved in such a transaction, which documents are needed and where they go?

Thank you for reading!

-Chris