Posted by kito169 on October 11, 2012 at 05:08:24 from (68.89.245.11):
Good morning everyone. I am fixing to sell a home and property and carry the note myself. In the past I have had a real estate attorney draw all the papers up. He always makes a Warranty Deed and a Deed of Trust w/seller finance, both. The Deed of Trust shows him as the Trustee. From what I can find out the trustee handles the situation if the buyer defaults on the loan. I"m trying to save some money so I wondering if the trustee part is neccessary. Can I just make a mortgage note with a property description and time period and consequences if buyer defaults. I would like to here of anyone"s experiences with a similar situation. Thanks Rick
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