Peter Thorwa…, Home Seller in Collegeville, PA

Who can write Seller Financing documents?

Asked by Peter Thorwarth, Collegeville, PA Thu May 16, 2013

I have a lovely home / property in Collegeville PA. I want to sell it myself and offer seller financing.

Who would be best to write the mortgage etc? I believe I'd need a loan doc, an All Inclusive Trust Deed and maybe more.

Approx. what might those cost?

Help the community by answering this question:


Your real estate attorney can prepare the mortgage and record the lien.

In PA, the Buyer's Realtor or attorney will prepare the Agreement of Sale.

Keep in mind that the Buyer will most likely have a Realtor and the Buyer will expect you to pay their Realtor's approx. 3% commission. Also, the Buyer may be slightly turned off by the expense of having to hire an attorney. If you do no want to pay, you can consider offering a closing cost credit, even if added on top of the sales price, so that they can in essence finance those fees.

Also, re: Seller financing, the Buyer may end up choosing to go with a bank, etc, as opposed to taking you up on your offer of Seller financing. You cannot require the Buyer to use your financing, although you CAN require they at least get prequalified by the mortgage person of your choosing so you can trust they are well-qualified.

Re: selling it yourself, if your home is in good condition and shows well, I think you could have a shot. I would focus on these 2 things:

1. Good photos - I can't stress how critical this is
2. At least use some sort of flat-fee service ( to get your home on the MLS.

I am not going to bash you for trying to sell your home yourself. Just keep in mind that the National Assoc. of Realtors does much research on the topic of their studies show that:

1. Most buyers have a Realtor and find the homes they are going to see through the internet or the automatic searches their Realtor sends them. Then ask their Realtor to show them. If you are not on the MLS, you are shutting out 90% of the buyers out there at this time.

2. Unless you have a background as a Realtor or in marketing or law or some similar industry, the chances of your home selling through your efforts are slim. Most FSBOs end up listing with a Realtor eventually. But now their home has been on the market for a while and will be considered "stale". Not to mention interest rates may be hire then, etc. Just keep all this in mind and calculate the time value of money. Is it worth it to you to sell quickly and for as much money as possible, or later for possibly less money, but save on fees. Make sure to run the numbers and see which scenario works better for you.

Hope this helps and truly the best luck to you!

Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty
Web Reference:
0 votes Thank Flag Link Fri May 17, 2013
Wow -
Ron gave you an answer in a nutshell.... nothing for me to add.
You may want to reconsider and hire an experienced local Realtor??? I am just saying......

Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert

Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
And always with a SMILE 
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties Brokerage, 30 Green Bay Road, Winnetka, Illinois 60093
Check out my website at htttp://
0 votes Thank Flag Link Fri May 17, 2013
If you have the knowledge to act as a Realtor, why can't you act like a Lawyer too?
0 votes Thank Flag Link Thu May 16, 2013
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