Okay guys, on this one, we will go through the form for third-party financing. So again, here is the contracts one, two, four that we put together. Now, we're gonna deal with the third-party financing and addendum. I'll come over here to my forms and click on the third-party financing addendum. Again, remember I set this template up myself. If you need to go to the forum and find it, you come over here and start typing in the information. You will have to come down here and click "all," and then you'll see these pop-ups here. The third-party financing addendum, which is this one right here, and you would click it, and it would pop up in this section, excuse me. Okay, so this third-party financing addendum is a conventional loan. I know that by the percent that they're putting down. Of course, you would know that in the process when you're dealing with the lender and the buyer, you would know what they would be doing. So, I would click this button here, and this one here. This is for folks that are doing just one loan. If they're doing two loans, then you would utilize both A and B here. Generally, you'll just be using A. The first mortgage on the principal amount of... and that is the coming back here, you'll find the amount on the contract here that you're financing, the 380. They're not financing the 475 total price because they're putting 95,000 dollars down in cash. So, this 380 is what you will use. I do in full. This would be 30 years if they're doing a 30-year note. If they're doing a 15-year note, then you'd put 15. They're not to exceed percent-wise. So, this is where you're going to be putting the...
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Trec third party financing addendum Form: What You Should Know
Texas Real Estate Commission Third Party Financing Addendum — PDF The Third Party Financing Addendum is used when a property is refinanced through another party to provide financing that will not be included in the seller's original contract. This form Third Party Financing Addendum — TX Real Estate Commission The Third Party Financing Addendum is used when a second mortgage has been taken on the property and the additional amount being borrowed by the lender will not be included in the seller's original contract.
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