Buying a home that is owner financed

[NinaN]

I recommend calling a title company and asking them how they do seller financing deals. Title companies often draw up the contract terms on the financing. They would probably be able to give you pertinent local info for free.

Any deal you do needs title insurance and a deed, and the title company is the one that will manage those details for you.

[jackmichigan]

Originally Posted by NinaN

I recommend calling a title company and asking them how they do seller financing deals. Title companies often draw up the contract terms on the financing. They would probably be able to give you pertinent local info for free.

Any deal you do needs title insurance and a deed, and the title company is the one that will manage those details for you.

However, a title company will not give you legal advice. Also, you need to know what is being covered under a title insurance policy. There may be exceptions noted in the policy which need to be understood.

[NinaN]

Originally Posted by jackmichigan

However, a title company will not give you legal advice. Also, you need to know what is being covered under a title insurance policy. There may be exceptions noted in the policy which need to be understood.

Correct, but the title company should be able to explain the exceptions. If the OP is adamant about not hiring an atty, at least they can get a template for the standard process from title so they can see what's not standard w the offers they are getting from sellers.