Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 2 years ago,
Alaska Selling with owner financing and an existing loan
I'm selling my current primary home For Sale By Owner. I received a compelling offer that would require me to owner finance, however I currently have a mortgage. Without giving specifics, this is a lucrative enough deal that I would like to see to the end. I have contacted my mortgage company, and they are fine with it, so along as I keep the deed and title in my name until the property is paid off. Home insurance gets a little tricky but I'm working through that as well.
What I need help with, is the terms and and conditions agreement of repayment including default, late fees, and all the other GOTCHAs! I've got several calls out to local attorneys/real estate gurus trying to find someone who can review what I have drafted up. I haven't received a phone call back, so I'm getting impatient.
Does anyone have any contacts in Alaska, or licensed in Alaska, the works on owner financing deals that may be able to help assist me?
Thanks for any info!