Sub2 forms questions for possible first deal!? Posted by: EJ real estate investor, physician
Posted on : 1/5/2010 10:34:23 PM Hi all;
Just some paperwork questions from William's forms:
1. initial paperwork to have the seller sign are the P&S agreement, land trust addendum, authorization to release, limited POA, and the Ultimate Disclosure document. Are ALL of these needed initially? I plan to close my first few with an attorney or title agent. I am leary of explaining all these on my first deal by myself. Which of these should be completed with the attorney?
2. on the purchase and sales agreement: for a sub2 don't you usually leave the new loan area blank? which closing costs do you usually check off for the buyer to pay?
3. on the land trust addendum, do you name your company or yourself as the trustee or do you make up a name and use your entity to be the beneficiary?
Sorry for the long one; thanks for any help!!
Eric
Eric Fete |
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