Contract For Deed, some general questions

[Justin Hennig]

I'm exploring some seller financing options on a 5+ unit multi-family so have a few questions I'm hoping some KIND SOUL who's been around the CFD block before can help answer...I promise to Pay it Forward!

     1) Do Services exist to administer the paperwork

a) both the transaction (real estate attorney or someone else?)

b) The payment paperwork afterward and keeping track of money paid, interest...amortization schedules, etc...in other words, does a service exist that would be able to print out the mortgage bills that follow along with the amortization schedule.  Who did you use/would you recommend?

2) The prospective sellers (husband and wife) are both elderly, so with a longer amortization schedule (targeting 25-30 years) that will outlast their lives, how do the mechanics look upon their deaths (CFD being transferred to next of kin for example). How should this be presented this to the sellers...(they haven't done a CFD in the past).

3) Do you have any other general advice regarding CFD?

Thanks!

Justin