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I Help Brokers Do Seller Financed Deals

Posted in Seller Financing

I HELP BROKERS  STRUCTURE SELLER FINANCED DEALS  Brokers are licensed to write up standard transactions using multiple listing association forms. A seller financed deal requires teminology which the standard forms do not cover. There are a lot of moving parts in a seller financed deal.  No two seller financed deals are alike, whether they are wrap-around deed of trust deals, assumption deals, or lease option deals. That’s where I come in. The broker writes a draft purchase agreement and then adds this wording: “This is a good faith letter of intent at this point. It will become a binding contract after additional seller financing terms are added and clarified by a licensed attorney”.  Then the broker should call me. We will figure out together how to get the transaction reworked and into closing. I ran an escrow department in my law...

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