What are the next steps after creating a seller finance note?

[Sam Epperson]

let's say I come to an agreement with the seller for them to finance some of the deal. let's also pretend the seller owns it with no debt, and we agree to 5% down, 5% rate, and 10 year balloon.

how are we drafting this legal document? Do we get an attorney to write this up for us? Can the title company do that? and then what happens with the actual document?

is that being sent to county clerk?

also, what happens if I want to sell the note I've just created? maybe this deal is so juicy, someone would pay me for the right to take it over. How do I go about selling this note?

I understand the first parts where creating a win-win deal is key, I just can't seem to find what happens next.

[Tom Gimer]

A smart seller will have note, deed of trust/mortgage/etc. prepared by a local real estate attorney (yes, he/she may work with/at the title company) and be sure the security instrument is properly recorded in the land records. 

If you're the buyer, you don't sell the note. That's would be a decision the seller/lender could make. 

If you want to sell your interest after closing, it would be the property itself. Now, if the deal is so sweet that someone may want to step into your shoes prior to closing for a large fee, make the contract including the seller financing terms freely assignable and ironclad.

Good luck.