Seller Finance documents

[Ron Sidwell]

I'm looking for examples of a seller finance contract for the state of Maryland.  My goal is to set up conditions for my daughter to purchase one of my investment properties through seller financing.  I'm looking to keep costs low and ensure we are both protected.  Any help is greatly appreciated.

[Chris Seveney]

@Ron Sidwell

My recommendation would be to have an attorney draft the documents.

If you want to go the cheapest way (not advised) Fannie Mae has online state by state notes and security documents.

[Ron Sidwell]

Thanks, Chris.  My intent was to use and attorney but provide the base documents I wanted to use.

[Chris Seveney]

Quote from @Ron Sidwell:

Thanks, Chris.  My intent was to use and attorney but provide the base documents I wanted to use.

 Most attorneys in the space already have a doc set.

[Corby Goade]

I can appreciate your intention, but these posts about keeping costs low when dealing with what could be a big transfer of assets, especially with a family member, make me nervous. 

I've found over and over in REI, focusing on saving money is the best way to lose a ton of money.

For something as sensitive and personal as this, I'd either hire a local, knowledgeable attorney OR, depending on your state and the regulations there, a real estate agent could help with this as well. 

I think you'd be surprised that it's going to be much less expensive than you think and you'll both be protected and the process will be legal and clear. Maintaining a great relationship with your family is defintely worth the extra effort and expense. 

That being said, it's a very kind gesture of you- I wish you were my dad! 

Best of luck. 

[Ron Sidwell]

@Corby - Solid advice.  I appreciate you taking the time to respond to my post.