All Forum Posts by: Mark V.

So what would you write for the loan terms on the third party financing addendum? For example.. How many years would you enter for the length of the loan since a HML is usually just a few months?

I thought so too except on the TREC Third Party Financing Addendum the only types of financing listed are Conventional, Texas Veterans, FHA Insured, VA Guaranteed, USDA Guaranteed, and Reverse Mortgage.

I understand why some people may not want to.  However, my question is this... Could it be done using a TREC residential sales contract?  If so, how?  I'm thinking a TX agent or broker might be able to answer this since they use these contracts every day.

Hello all... Long time lurker, first time poster here.  I was hoping someone could answer a question for me.

If I wanted to make an offer on a property and was planning to use a HML, how would that be written into a TREC residential contract? There is nothing in the third party financing addendum that lists hard money loans as an option. I've seen some people say to just make to the offer as a cash purchase but I'm kinda leary of that. Are there any other options?

Thanks!