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Updated over 2 years ago on . Most recent reply

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17
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3
Votes

Owner Financing Forms??

Tara-Gerd Lilley
Posted

Hi, I'm looking at a property on a golf course. It's a fixer-upper, down to the studs, and a blank canvas for me. 

Can anyone guide me on the forms? I'm using RocketLawer and will write our contracts. There are so many different forms. I definitely think I should hold the title since I will be pumping a lot of construction costs right away (more than the purchase price). Thanks!!

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Account Closed
  • Investor
  • Scottsdale Austin Tuktoyaktuk
4,152
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Account Closed
  • Investor
  • Scottsdale Austin Tuktoyaktuk
Replied
Quote from @Tara-Gerd Lilley:

Hi, I'm looking at a property on a golf course. It's a fixer-upper, down to the studs, and a blank canvas for me. 

Can anyone guide me on the forms? I'm using RocketLawer and will write our contracts. There are so many different forms. I definitely think I should hold the title since I will be pumping a lot of construction costs right away (more than the purchase price). Thanks!!

If you want to learn a lot about the legal system use Rocket lawyer and write your own contracts. (Winding up in a lawsuit is the best way to learn applicable law). However, if you want to be successful as an investor, use a real estate attorney instead. But, whatever way you decide to do things, determine comps, have a purchase & sale agreement, open escrow, order a title report, order insurance, having an inspection is recommended, having an appraisal is recommended, use a warranty deed, use a note & a deed of trust, have the warranty deed recorded, order a CCR from the HOA, determine your rights to the golf course, and have at it.

If you don't understand any part of this, have an attorney involved.

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