Yes, we work with a couple of attorneys who do transactions involving seller financing and contracts for deed.

Your question includes another part about servicing. Texas law was modified to help protect buyers from dishonest sellers in contracts for deed and seller financing. You truly need to talk to one of those attorneys, since you seem to have a misconception that servicing the collections on the contract must be performed by an outside party.

The law requires annual disclosure of liens against the property and the status of all payments you have made as buyer. The penalties against the seller for non-compliance are extreme, which is why having it handled by a third party may seem logical. But "needs to be" serviced is an overstatement. Also, you don't need to check balances yourself -- the escrow officer will explain the liens on your title commitment at closing.

As to the contract, Realtors are prohibited from writing a contract that would result in a future sale. Right now the time limit is 90 days. Since Realtors also cannot draft language for a contract, only an attorney can draw up a contract for deed, yes, you're correct.

You can use any title company that handles a contrat for deed. You need to make sure their is not a balanced owed on the property before entering into this type of agreement, also.

Good luck!

Amy Downs
Amy Downs & Associates, LLC of
Keller Williams Realty
972.468.5136