Real Estate Attorney in texas

There are a lot of benefits to Owner Financing. You can sell homes fast even if it’s not in “Perfect,” condition with owner financing. By eliminating some of the struggles of purchasing a home with a traditional loan, you open yourself up to more buyers.

There are a lot of benefits to doing an owner finance closing. First you can avoid real estate agent commissions, & you can sell the home without lengthy option periods. You can also choose to close when you want. There is a 7-day period that should be given to the new buyer to assess the property, but you can really save a lot of time versus going through a traditional lender. Another benefit is you are going to have an investment strategy that works for you, if you would like to structure your payments over a period of time or receive a larger down payment, it is up to you.

A wraparound mortgage, is officially called a deed of trust in Texas. This document secures the buyer’s promise to pay a mortgage note. So a homeowner with a mortgage can sell to someone that promises to pay that mortgage.
This is a bit of a belt-&-suspenders approach, but too much protection is far better than too little. This type of closing, secures the buyer’s promise to pay your mortgage, even if the buyer is paying your lender directly. If the buyer fails to pay either the first mortgage (to the lender) or the second mortgage (to you), you would be able to foreclose. This document needs to be signed & notarized because it will be recorded in the county’s property records to be valid.

A subject-to transaction means that a buyer is purchasing a home, subject-to all liens, debts & judgements. It is a creative finance technique where a buyer can take title to property without obtaining a loan in the traditional manner. The transaction usually involves the seller of the property leaving his or her existing financing in place.
Typically, homeowners who are behind on payments or are already in foreclosure are the most common types of motivated sellers & are good c&idates for “Subject-To” purchases.

There are lots of good reasons to form an LLC including:

(1) using the liability barrier to minimize personal exposure & maximize asset protection;
(2) organizing & managing one or more businesses;
(3) tax benefits including pass-through taxation;
(4) achieving a measure of anonymity;
(5) investor credibility in marketing & doing creative transactions; &
(6) in the case of a series company, compartmentalization & insulation of assets & liabilities within separate series. This last item provides significant benefits to investors who own multiple properties.

Price includes all filing fees, legal document preparations, & printed binder with Formation documents, & Articles of Incorporation.

A promissory note & deed of trust has one simple function, to secure the repayment of a loan by placing a lien on the property as collateral. If the loan is not paid, the lender has the right to sell the property. Both documents are to make sure, they secure the repayment of the loan.
A Promissory note with a deed of trust is basically an IOU, it is a contract that promises to repay the loan. the deed of trust is basically the document that pledges the security of the loan with the property as the asset in case of default.

A lease option is a special type of real estate agreement where someone agrees to lease a home & then also has a separate agreement to purchase the property at a certain time. After leasing a home, it is easier for an owner to trust a tenant who is taking care of a property rather than finding a new buyer. There are a lot of other great qualities to using this creative real estate method, & that is you can be flexible about the down payment. A person that leases a home from you can essentially pay off a down payment during a specific period of time. This option is great because without using real estate agents & paying extra commissions & closing costs, the sales contract validates the sale of the home.

Most of the time investors would like us to review their joint venture agreement prior to jumping in. And investors also like to use our st&ard agreement & adjust it to their liking, just to have something official & in contract for their real estate ventures with other partners. It is important that before you get tied up in a legal obligation, that you explore the options that you have & the risks that you are taking. It is safe for you to consult with an attorney legally for an hourly rate, rather than risk the outcome of things which you are not aware of.

In a For Sale By Owner, the seller’s agent is typically the person who draws up a real estate purchase agreement, but if the owner isn’t represented by a real estate agent or doesn’t want to use a real estate agent, a purchase contract needs to be signed, to protect the buyer & the seller anyway. We can do this at our office on Woodstone & IH-10.
This agreement protects the buyer & seller & gives the seller the ability to foreclose due to non-payment. All transfer of title notarized & recorded is included.

Consultations at Maas Law Firm can help in a number of different ways. Most of the time investors would like us to review their contracts. It is important that before you get tied up in a legal obligation, that you explore the options that you have, & the risks that you are taking. It is safe for you to consult with an attorney legally for an hourly rate, rather than risk the outcome of things which you are not aware of.

We do mobile notary services here in San Antonio. We do mostly Real Estate Transactions. It is important especially during COVID-19 to be safe, we wear a mask, & depending on the contract signed, it will be just one person the notary or more if witnesses are needed. With us coming to you, you will have contact with less people, & gives you the choice to stay at home. Sometimes you will need multiple parties to sign your documents, witnesses, trustees, administrators, etc. We do simple document preparation for wills, affidavits, simple power of attorney, & many other things mobile.
Sometimes you will need a document signed, like a deed or like a different type of closings, we can do that. Along with the document preparation. Even if you need multiple parties’ signatures. We can make multiple stops for your transaction.