Posted by Russ Sims on April 21, 1999 at 10:24:35:
Around here (Wa) if I arrange for the seller to take back a second, the closing agent prepares the doc. and it’s signed at closing. Once I’ve agreed on terms with the seller, it’s simple.
If the seller is transfering deed to you, there should be no need for a quit claim deed.
what documents are need with a 2nd mortgage to seller??? - Posted by LHoffman
Posted by LHoffman on April 21, 1999 at 08:33:59:
I have a question about giving a 2nd mortgage to the seller. A seller has agreed to take back a second mortgage on his property.
What documents do I need him to sign, besides the purchase agreement. Do I have him sign a mortgage (were in Ohio) and a promissory note. Stating that I owe him XXXX amount for 30 years!!! Does he also need to sign a quit claim deed or any other deeds???
Thanks
-LHoffman