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Updated about 2 years ago,
Owner finance in OK.
Good evening, everyone. My sister in-law has agreed to allow me to take over her loan with a 3.3% interest rate. She's agreed to maintain the loan and rate for 5 years. We agreed on a price and I will pay her the capital difference between the sell price and the remaining balance. We both are in tx and the property is in OK. I can't assume the loan because it's an investment property. I have no issues qualifying but I find the interest rate and her terms really attractive. My question is, what steps do we need to execute. What's the best way to place this deal in contract? I don't want to miss anything.