Commercial Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago on . Most recent reply
Structure Wraparound Mortgage
How do you structure a wraparound mortgage?
Does title get transferred in a wraparound mortgage?
I saw a recent Letter of Intent with an offer to the seller with an All Inclusive Trust Deed
Terms: $400,000 CASH DOWN. Seller to carry a 1st
via an “All Inclusive Trust Deed” on mirror terms with a principal balance of approximately $1,086,000 at 4.27% annual interest rate. Seller to Carry a 2nd
for balance of approximately $654,000.00 with an annualized interest rate of 3.75%, due in full on December 2019. The second loan will earn seller an estimated $85,837.50. Seller to be named on Property Insurance Policy to protect seller’s investment.
How would you take that LOI and turn it into a purchase contract?
Most Popular Reply
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
- 13,509
- Votes |
- 23,418
- Posts
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
You take it to a real estate attorney who will draft it to protect you.