The first payment

26 Apr

The first payment or the total down payment that has been paid by the buyer – should be clearly written in a private mortgage note.  If you do not make your private mortgage note notarised then chances are high it will not have any legal value.  Prepare a file where you will keep all of the records and notes of the payments and the photocopies of your private mortgage note.  If the buyer of the property pays through bank check than before submitting the check to the bank make a photocopy of it so that you can keep it for records. sell mortgage note

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