Fort Worth TX Contract Drafting Lawyers
Legal Guidance for Property Owners
When the economy is down, finding a lender willing to extend credit, even to employed and creditworthy individuals, has become increasingly difficult. This has put an enormous strain on sellers who are unable to find a buyer for their property. Property owners are turning, with greater frequency, to the option of owner financing.
At the Lonergan Law Firm, PLLC, our experienced Dallas/Fort Worth real estate attorneys provide legal advice and transactional services to facilitate the owner-financing of a property sale.
When property owners choose to finance the property themselves, they set the terms of the mortgage for which they are acting as the bank. A number of risks arise for sellers who act as mortgage holders. Our real estate attorneys work to minimize these risks by assisting you with:
- Drafting the loan and sale contracts
- Negotiating with the buyer/seller
- Providing title services and closing services
Out-of-State Buyers
Savvy investors are finding housing both affordable and available through owner financing across the state of Texas. We handle a great many property purchases for out-of-state clients including those from Florida, New York, California and Nevada. Our firm will handle the contract review, drafting of contracts and amendments, and purchase negotiations. We can accomplish the closing without your presence if that works best for you.
The Texas SAFE ACT and Owner-Financing
The Texas SAFE Act (T-SAFE) has had an enormous impact on the future of owner financing in Texas. T-SAFE requires owner-financing sellers to use a licensed mortgage provider to originate loans, unless the seller is "exempt" from this T-SAFE requirement. Today's legislative and regulatory climate mean that changes to T-SAFE and other real-estate related statutes and regulations may be happening at a rapid pace. In this environment, you need an experienced legal team such as The Lonergan Law Firm provides, to guide you through the regulatory maze.
To learn more about T-SAFE, see the article: "The Texas Safe Act and Its Impact on Owner-Finance Sellers and Hard Money Lenders.
This is a new area of law so the details are not all clear. Our law firm focuses exclusively in the area of real estate and real estate investments. We stay abreast of all changes in the law and are following T-SAFE closely. You can count on our firm to help you accomplish your goals while remaining within the law.
Whether you are a homeowner selling your home or a builder selling multiple properties in a development, you can turn to the Lonergan Law Firm for real estate sales and contract drafting solutions. Contact us online or call 214-989-3308 to schedule a consultation.
