help me with owner financing contract i am doing my self?
I need help from someone who knows what they are doing. I have a mobile home(I owe 23k) and it sits on an acre(I owe 15k). I have a lady wanting to finance it. She is putting 25k down on it but it will be one month after she moves in because she is changing jobs and she has to cash out her retirement after quit date. It is in the state of Texas. We will take the 25k and pay off the house(23k) and it will leave 13k that we owe on land. She is paying us 5% interest for 5 years and she is paying taxes and insurance.
The things i am worried about if anything
1. She will move in and not like the neighbors, the area ect and move out
2. She has big dogs and if they tear something up she may think we are responsible.
3. Something is bound to go wrong in the 5 years like her water freezing up, the water well messing up, just basic stuff that happens. We do not want to be responsible for anything.
Anyway, I trust the buyer but I want the contract to ay everything. We cannot hire a lawyer
We cannot hire a lawyer to do it as we will have a loan on the house and land the day we do the contract and I don’t think you can owner finance something you do not own. It is just a contract between us. thanks