Sometimes the title of the deed is clear (like “Warranty Deed” at the top of the instrument), but that could be meaningless if the internal wording is incorrect or less than an absolute warranty of title.

Many folks use the layman term "Note" to talk about the set of instruments (Mortgage/Deed of Trust & Promissory Note).

@Kesi Ika-Kioa It comes down to the cost on each instrument you are using and the timeline you plan to have it open.

I am very happy if I can motivate just one person, all of you on BP have been instrumental in my success so far, thank you!

ACCEPTANCE: This instrument will become a binding contract when accepted by the Seller and signedby both Buyer and Seller.

Hey @Sherman McLendon For a wholesaler the contract is an extreme important instrument to structure a wholesale deal.

There is a group in the south bay that I currently with for other instruments, IRA Services.  

Since the blunt instrument of the securities laws cannot play favorites for real estate this makes most offerings of any size intractable using this exemptionQuality sponsors are still using item 1 above.  

The point being, if you are interested in investing more or do any realistic forecasting on debt you may incur in the near future, I think you would be hard pressed to debt instrument lower than where residential mortgages have been and are currently.Secondly, not to talk you out of using Sofi, I am sure they are great, but there is nothing inherently special about the rates or "no lender fee", no closing costs structures they are offering.

It is a new financial instrument for me so I hope I'm not overlooking anything.