The key to a good seller financing contract is the terms, and the clauses that you use. If you do not use these correctly it can be as useless as not having them at all. I personally use my own contract writer, it is a wizard format, you simply check yes or no to the questions it asks you. Once it determines for it self what kind of a deal you are working on. It creates a contract to fit. This assures me that the clauses and terms are placed in the correct area of the contracts. A program like this will write pretty much any contract you will need for buying property.
Now, if you are looking to pay a lawyer to write your seller financing contract, here is a few things you are in for. High cost which could be in the thousands. Time, you will waste so much valuable time that could better be used dealing on real-estate. If you need a seller financing contract, you can expect it to take anywhere form one week, to a few months depending on the lawyer. So if at all possible, eliminate the amount of time you spend with a lawyer. By using a contract writer, you can write your contract in minutes, and it is completely custom written.
OK, so we know now, that if you have a lawyer write your own contract, it could waste time, which could cost you the entire deal all together. It will cost you more to have the lawyer write it, then to just have the lawyer revise an already written seller financing contract.
To learn more about contract writers you can check it out here http://www.squidoo.com/TheContractWizard
You are a member of Peter Built's Fan Club!
tweet this!