Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago on . Most recent reply

User Stats

15
Posts
2
Votes
Zion Greenfield
  • Asheville, NC
2
Votes |
15
Posts

Getting a speedy contract with an owner financed deal

Zion Greenfield
  • Asheville, NC
Posted

Last week I negotiated a deal with a seller for an owner financed deal. I would like to get this under contract as soon as possible, however my agent is not able to write the contract because she is with Keller Williams and they would only allow her to write it if they got a piece of the pie. My agent, as well as an investor friend, referred me to a mortgage attorney to write the contract. I have not heard back from the attorney yet in two days. I would like to get this contract sign asap and I was wondering if there was a way to get a contract written up without the mortgage attorney? 

Most Popular Reply

User Stats

788
Posts
640
Votes
Rocky V.
  • Flipper/Rehabber
  • Arlington, TX
640
Votes |
788
Posts
Rocky V.
  • Flipper/Rehabber
  • Arlington, TX
Replied

Don't complicate things.  Put your offer in writing with terms of owner financing and both of you sign agreement.  Hand this over to a title company along with a sales contract and ask them (pay for) to draw all contracts necessary.  They should have attorneys that can easily write up contracts.  As long as both of you are in agreement everything should work out just fine. 

My most recent email to escrow officer looked like this:

Sales Price $15K, $1K down, 0% interest, $200/month payment until paid off, no prepayment penalty

Loading replies...