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Updated about 7 years ago,
Owner finance - no recorded deed
I am likely closing on my first owner finance deal in the next month. The owner has agreed to carry 126k on 5 properties that is in his portfolio with agreeable terms.
The one issue I have is that he is wanting to use an articles for deed non-recorded as title proof.
I have no personal experience with doing this. I understand why it is safe and beneficial for the seller. I am wondering what are the ramifications for me as the buyer.
Any insight would be great appreciated!
Thanks,
Mike Wilson