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Updated about 3 years ago on . Most recent reply

User Stats

151
Posts
17
Votes
Alvaro Rodriguez
  • Specialist
  • Houston, TX
17
Votes |
151
Posts

First time owner finance

Alvaro Rodriguez
  • Specialist
  • Houston, TX
Posted

I have a house under contract, the bank was giving me trouble so the seller and I agreed to seller finance. We have agreed to a price, interest rate, downpayment, and balloon payment terms, and would be to 30 years.

Now that all the terms are agreed to, what are the next steps? who can prepare the paperwork for us? do I go to a title company? the seller and I have our own agents because we originally tried the conventional way, and we still want our agents to get paid.

any guidance on the next steps and how the process works is greatly appreciated.

Most Popular Reply

User Stats

317
Posts
293
Votes
Manny Vasquez
  • Real Estate Agent
  • Orange County
293
Votes |
317
Posts
Manny Vasquez
  • Real Estate Agent
  • Orange County
Replied

@Dustin Verley - I apologize for not being clear.  But each agent would get 3%, for a total of 6%.  Then there would remain 4% (minus escrow fees, title fees, transfer taxes, etc.)

  • Manny Vasquez

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