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Author Topic: Documents to accept Private money?  (Read 9193 times)

Offline israelramirez

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    • We Buy Houses In Arizona
Documents to accept Private money?
« on: February 27, 2017, 08:41:38 pm »
If I were to accept money, what docs do I need to keep lender safe?

Offline Bill H

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Re: Documents to accept Private money?
« Reply #1 on: March 01, 2017, 03:32:25 pm »
In short, exactly the documents the lender requires in order to loan.

marksmith

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Re: Documents to accept Private money?
« Reply #2 on: September 15, 2017, 12:14:29 pm »
Hi Bill H,
Great answer.
Thanks for the information.

Offline WPropertiesOK

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    • Home Buying Company in Oklahoma
Re: Documents to accept Private money?
« Reply #3 on: September 18, 2017, 09:02:50 pm »
Yea same docs as if you were to borrow from a bank. To clarify that is a mortgage and a note. The mortgage pledges the house as collateral. The note outlines the terms of money you are borrowing. Together those make your private lender safe. Most title companies or closing attorneys can help draft those docs for a fee prior to closing.

Offline harrymethew

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    • Miami Hard Money Loans
Re: Documents to accept Private money?
« Reply #4 on: October 04, 2017, 12:54:53 am »
income proof, residential proof and also need to keep any property document depends on lender's requirement.
« Last Edit: October 04, 2017, 12:57:18 am by harrymethew »

 




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