OfflineI recently made an full price offer on a property. He was asking 180k. I told him i would give him 120k now and the other 60k with no intrest in a year. I need to know what kind of documents of paper work that i can use for the 60k so he knows he will be getting he's money.
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a PROMISSORY NOTE would do the trick, with witch you would list the terms
YOUR HERO, SULLY
Way to go Agriego! Congratulations on your first deal! Start your own journal if you like, we are happy for you. Please let us know how it works out.
God bless,
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
I just found out he excepted the offer. Any examples on how i could write up that promissory note.
Congratulations!
Since I didn't see a promissory note on this site for your specific need, I thought I'd share a good site for creating some legal documents. You can just fill in your info and it will write it up for you. I haven't gone all the way through one, so I don't know if there is a charge or not. You can check it out if you like.
http://www.agreementsetc.com/loan-agreement/
God bless,
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
You can also go to www.legalzoom.com, they have promissory note forms. They help you with legal filings also (I think).
Al
"NOW GO FIND A DEAL"
Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.
Frank Outlaw
We decided on doing a real estate conract on the land that i was going to sub-divide to pay for that 60k. Do we just make the terms ourselves, I need a little more info on the real estate contract.