Skeleton Key - A Brand New Seller Financing Tool/Service
Attorney · Dallas, TX · Member since 2020 · 23 posts · 13 votes
Hi all:
My colleague and I have a brand new company, Skeleton Key, that is a one-stop shop helping buyers and sellers complete seller financing transactions. We provide all the (easily customizable) loan documents (approved by attorneys) and legal disclosures that you need and answer any and all questions about seller financing. Our fee is 1% of the principal amount of the loan from the seller (and can be paid by buyer or seller).
A lot of folks do these deals without proper oversight and guidance, for example using title companies to prepare forms, which is very risky given they lack the expertise to do so (and in many cases, are not supposed to). The cost of hiring an attorney is often prohibitive for folks. So, we're aiming to be a very easy to use and affordable option for investors to make sure they have all their i's dotted and t's crossed.
Happy to answer any questions about the service--and good luck to all!
Hi all:
My colleague and I have a brand new company, Skeleton Key, that is a one-stop shop helping buyers and sellers complete seller financing transactions. We provide all the (easily customizable) loan documents (approved by attorneys) and legal disclosures that you need and answer any and all questions about seller financing. Our fee is 1% of the principal amount of the loan from the seller (and can be paid by buyer or seller).
A lot of folks do these deals without proper oversight and guidance, for example using title companies to prepare forms, which is very risky given they lack the expertise to do so (and in many cases, are not supposed to). The cost of hiring an attorney is often prohibitive for folks. So, we're aiming to be a very easy to use and affordable option for investors to make sure they have all their i's dotted and t's crossed.
Happy to answer any questions about the service--and good luck to all!
This is a very much needed service. We should connect about partnership. As a closing attorney and title company, people often ask us to draft their notes and we prefer not to do it for the sake of conflicts of interest.
Hi all:
My colleague and I have a brand new company, Skeleton Key, that is a one-stop shop helping buyers and sellers complete seller financing transactions. We provide all the (easily customizable) loan documents (approved by attorneys) and legal disclosures that you need and answer any and all questions about seller financing. Our fee is 1% of the principal amount of the loan from the seller (and can be paid by buyer or seller).
A lot of folks do these deals without proper oversight and guidance, for example using title companies to prepare forms, which is very risky given they lack the expertise to do so (and in many cases, are not supposed to). The cost of hiring an attorney is often prohibitive for folks. So, we're aiming to be a very easy to use and affordable option for investors to make sure they have all their i's dotted and t's crossed.
Happy to answer any questions about the service--and good luck to all!
This is a very much needed service. We should connect about partnership. As a closing attorney and title company, people often ask us to draft their notes and we prefer not to do it for the sake of conflicts of interest.
Thanks, Marc, I would love to connect. I had envisioned that we would be a great service to title companies since, in my experience just as you have said, many people ask title companies to do this and rely on them and it puts the title co in a precarious position. We aim to alleviate that burden, and we will be able to offer the service nationally.
Thank you!