Our Services
Owner Financing
How the Escrow Company protects both parties.
Protects the Seller’s investment by sending proper notices. If the Buyer stops paying. The property can legally go back to the Seller. This may involve an attorney, but the Seller has to have proof of notices before the attorney can do their part.
Protects the Buyer's investment by ensuring loan payments are made to the Bank if the Seller still pays a Mortgage or to ensure Seller has received their funds by keeping receipts of deposited funds. If the Seller does have a Mortgage and it is not paid the property can be foreclosed on by the bank.
The Right Company
The Escrow company will ensure both parties are compliant by preserving the original documents signed at closing to safeguard against any unauthorized recording before both parties have satisfied their terms. Serving the loan to ensure the accuracy of each payment made by applying the correct amount to principal and interest. Monthly reports and online access will also keep both parties informed of the status of the loan.
We'll make sure you feel confident and educated every step of the way.
The Services You Need
If you have questions about IRS Reporting. We will maintain records of the loan monthly and report accurately to the IRS annually.
Our company will send a 1098 to the Buyer’s for the interest paid on their Mortgage for each tax year payments are made.
Our company will send a 1099 to the Seller's for the income they received each tax year.