Who handles all of the paperwork?
Our Attorney will handle all of the paperwork. You’ll send your funds directly to their office and make them payable to them. The Closing Agent won’t disperse any funds until all of the documents that secure your investment are in place and signed off on. They’ll create the promissory note that states the terms of your loan, the mortgage instrument that gives you collateral, and the title insurance policy. I’ll also send you a copy of the Hazard Insurance Policy. It is customary that I, as the Borrower, will pay for all of the closing costs to secure your investment. It is usually just deducted from what you lend me. You’ll get the original note signed off by me, your Borrower that day, as well as a copy of your title insurance policy. You’ll receive a copy of the mortgage that day, and then once it is filed in the county and recorded in the Deed Books; you’ll get a stamped copy in the mail a few weeks later. By the way, the only person that needs to sign anything is me as the Borrower
