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Updated about 8 years ago on . Most recent reply

User Stats

73
Posts
15
Votes
Pete Sailhamer
  • Investor
  • Windsor, WI
15
Votes |
73
Posts

Mortgage Agreement for a Private Lender?

Pete Sailhamer
  • Investor
  • Windsor, WI
Posted

If I were to purchase a property solely with private lenders (say 3-4 different individuals) using debt financing (i.e. I own the property and they are the 'bank'), in addition to the Promissory Note should I also sign a Mortgage to secure the note?  

If so, the templates that I come across all have the lender signing in the presence of a notary public.  It is my goal to make the process and easy and convenient as possible for my private lenders, preferably signing electronically with Docusign.  Typically is this required for them to sign with a notary public, or has anyone used Docusign or simply sign/scan/email back?

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