Legal Assistance for Owner Finance Transactions
Since the mortgage crisis that took place in 2009, it can be quite difficult to purchase a new home or sell your existing home or property in the Dallas-Fort Worth area. Due to new government regulations affecting the mortgage industry, even people with good credit sometimes have to deal with higher interest rates and even bigger down payments. But those with lower credit scores are almost always faced with the extremely high interest rates that come with getting a subprime loan, which is generally the only option for people with low credit scores. As a result of the regulations and stricter policies implemented by financial institutions, owner financing has become a popular alternative for the many people who fail to qualify for traditional financing.
Getting a Loan Application for Real Estate Owner Financing
Before you can make a real estate owner financing transaction with a potential buyer, it might be a good idea for you to provide a loan application. The Farah Real Estate Law Firm can help you create such a loan document for your real estate owner financing transaction. Loan applications are for your own protection and can help you make a wise decision.
Negotiating a Price for Real Estate Owner Financing Transactions
When working with your real estate attorney to draft the terms of the loan, it is important to consider the amount and implications associated with the down payment. A down payment is critical, since it can lower the risk of losing a large amount of money. In addition, the initial investment ensures that the buyer will be more committed to maintaining and keeping the home in good condition. In order to negotiate the best price for your needs, it’s best to rely on our real estate lawyers, who know the intricacies of owner financing contracts.
Using Our Team of Experts to Create Owner Financing Contracts
It is important to make sure that the owner financing contract is comprehensive and tailored to your specific situation. Creating the best real estate owner financing contract to fit your unique situation and needs can be tricky, but with the help of one of our attorneys, you will end up with a contract that aligns with your goals. If you’re interested in our owner financing contract services, contact us today! Our main office is conveniently located right in the middle of the Dallas-Fort Worth Metroplex, in Mansfield, Texas.Contact our law firm!