How Do I Do It?

CAVEAT - The information presented here is for general information and should not be construed as legal advice. The methods and documents discussed are used by The Buck Law Firm, PC in Virginia. We can not vouch for the laws of other states or documents prepared by others. Beware of using on-line forms as each transaction is unique and requires the expertise of an experienced attorney.

• Prepare a Sales Contract adding the MRIS Seller Financing Addendum (form K1335).
  
• In paragraph A. “TYPE OF FINANCING" Cross out "First Second Third Deed of Trust" and substitute “wrap around Contract for Deed.”
  
• Fill in the payment terms in paragraph B "LOAN TERMS" If the loan is adjustable, be sure to spell out the terms of any adjustments.
  
• Then, complete the remainder of the form.

If needed, add a contingency “This Contract is contingent upon the parties receiving an explanation of Contract for Deed financing from an attorney of their choice. This contract shall be null and void if this contingency is not removed by 6PM on (date).” Allow five days to be safe.

Then, call our office at (540) 785-2122.  We will fax or email the appropriate Contract Addendum and Disclosure.

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