Dec
09
I want to owner fiance my rent house to my current renters. How do i go about the paper work? Who do i talk to
By
The renters that live in my rent house right now have lived there for about 10 years and have been on time on their monthly rent. I am not in a hurry to sell my rent house but i would like to owner finace with them. The renters don’t have very good credit but they are very intrested in buying with owner finance. If I owner finace it would be a win win situation. I can sell my house and maybe get some interest on top of that and the buyers would get to own their first home.
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4 Comments
December 10th, 2009 at 9:03 pm
A few hundred bucks spent on a real estate attorney would be money very well spent. You don’t want to do this wrong.
December 11th, 2009 at 11:06 pm
You don’t need a Lawyer. Go to a title company. They can handle it for you.
FYI: A lawyer will charge you, and then have a title company do it. You pay the lawyer AND the title company.
December 13th, 2009 at 1:55 pm
Here is a link to a Wiki “How-to” article that pretty much walks you through the process:
Good luck with your real estate endeavors.
December 14th, 2009 at 7:24 pm
I would suggest coming to the terms you both agree upon and then have a real estate attorney write up a land contract for you guys. It will be money well spent and it will protect both parties involved in the transaction. Also consider having it recorded at the local recorders office. Good luck!