Seller Carryback Trust Deed Tips

• We suggest that you consider negotiating the following items into the transaction at the time the property is sold.
• Monthly payments on the note
• Market interest rate for private financing
• Late charge
• Due on sale clause
• Tax service, especially if the property isn't local 
• Request for notice of default
• Request for notice of delinquency
• Fire insurance coverage with lender endorsement
• Title insurance policy with lender endorsement
• Copy of the property appraisal for the seller
• Copy of the buyer's signed loan application
• Copy of the buyer's credit report
• Certified copy of the fully executed senior lien(s)
• Copy of any special report done on the property, e.g.:

                  Building              Septic               Well

                  Pest Control       Environmental     Soil

                  Engineering        Survey               Other 

Why are you a hero? Because you have maximized the value of the Note and TD or Mortgage in the event the holder should decide to sell the note prior to its maturity.

Be sure to remember to keep in a safe place all the above PLUS the original note, trust deed (or contract or mortgage), title policy, seller's, financing disclosure statement and escrow closing statement.