You should have a real estate attorney write up the mortgage terms as agreed upon and either the same attorney or a Title company for title insurance. You want to make sure both you and your sister are protected. You want to convey a clear Title to her and have her mortgage recorded so that your note is in the first position as lien on the property. This way if other loans or liens are placed on the property at a later date, you will be the first to be paid off.
Broker Associate GRI, CDM
Prudential Tropical Realty
I'm assuming you are going to hold the mortgage on this home? If so,Nadine was right, you need to contact a rela estate attorney or a title company. You will need to decide the term for repayment (be it 10 years, 20 years etc). If she is going to purchase via a regular mortgage I would be happy to help. My number is 727-502-9400. If you are holding the mortgage then contact our title company. They would be would be happy to help with your needs or answer any questions. Please contact Carla at Bay Surety Title Company at 727-820-4343.
Contact a local Real Estate Attorney or a Title Company. Tell them what you are doing. Have them draw up a mortgage document and record with the county. An Attorney will be your best bet, as they can also write up a contract that will outline all the details regarding what will happen if your sister fails to make timely payments.
The Herman Group Real Estate