At the end of last year I purchased my first 2 properties and I have someone interested in one of them with seller financing. I’m fine with that since I’d recoup my investment with the down payment.
My question is if you can use a title company to close that deal or no? I’d rather do that but if I need to do it myself, I can figure that out too.
@dpkarels unless the title company has some odd objection, I can’t imagine why they wouldn’t be able to help. You could find out for sure by just calling a few title companies and asking if there’s anything special they’ll need, or if this scenario might pose any problems for them.
@dpkarels, what @retipsterseth said. And while understanding that the details for how seller financing can be done can vary from state to state, for whatever it's worth, I worked with a title company for my first (and only, so far) seller financing deal. They were extremely helpful. The particular state law made selling on mortgage/deed of trust the best option in that case, and the title company provided me with all the document templates that I needed for the promissory note, mortgage, etc. In other words, at least in my case, closing my seller financing deal with a title company made it tremendously easier than muddling my way through it on my own, and probably cost me less money than if I'd hired an attorney to draft up the documents I needed or review ones I found off the internet (which I probably would have done, since it was my first seller financed deal).