Seller Finance Contracts | Who Should Draft Them Up?

[@JohananRios]

Great info on your channel. Really helpful as I tackle my first seller finance deal.

[@ChrisGoff]

Thank You!

[@dewholdingsllc1050]

I’m in Texas (and NM and OK.) All three states have their own Real Estate Commission forms that all title companies and courts are used to seeing. All licensed agents and brokers are required to use those forms. Unlicensed folks can use anything they want so long as they are in compliance with State law. I find it easier to use the fill in the blank form and add finance addendum. My 2 cents.

[@ChrisGoff]

Thanks for adding to this!

[@makesha7434]

What kind of deed do you notarized whe you are closing self financing? warranty or performance?

[@ChrisGoff]

You are not notarizing anything as the investor, not your job. Let the attorney or title company handle that. And this includes the type of deed.

[@roireyes414]

Hello.. I've been watching your channel for a while.. what about a Lease option contract? Will you go to a Real Estate Attorney to Draft the Lease Option contract? Is there an attorney you can recommend?.. Thank You🙏

[@ChrisGoff]

For me, personally, no. I use my Lease Option Contract provided to all users of REIPro. However, you can have your attorney do a one-time pass-through to ensure everything is good for the state you live in. Then you are fine.

[@roireyes414]

@ChrisGoff I live in Florida.. are the lease option contracts in REI Pro good to use in Florida?.. I spoke to a broker and he is saying that for a Lease option.. there has to be a Down-Payment that needs to be held in Escrow and has to be returned to buyer if they don't exercise the option to purchase.. I thought I can just have a non refundable option fee.. and maybe give credits towards the purchase price from the monthly rent?.. maybe a video explaining those will be a Great topic for the next. Thank You🙏

[@pedroramires5049]

How much $ the real estate agent charge for this service

[@ChrisGoff]

An attorney can vary depending on where you live, anywhere from $500-$2,500.