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Updated over 10 years ago on .

User Stats

5
Posts
2
Votes
Jordyn Pfeiffer
  • Wholesaler
  • Madison, WI
2
Votes |
5
Posts

OTP on a wrap mortgage deal

Jordyn Pfeiffer
  • Wholesaler
  • Madison, WI
Posted

Hey BPers, 

I have recently come across an opportunity to purchase 8 units (4 duplexes in one cul de sac) with seller financing.  The units have an existing mortgage on them, so I would be doing a wrap, which I know has its risks (due on sale clause).  My question is, what should all be included in the OTP?  I am in WI and will be using the standard WB-11 form, in addition to a land contract.

Any insight is greatly appreciated. 

Jordyn