If you are selling a residential property and for the first time you are carrying the note, and maybe feeling a little uncomfortable, you basically have 3 options: do it yourself, hire an attorney, or use a Title Company. I recommend a Title company.
Do it yourself is not an option – fraught with danger. An attorney will do a fine job, but will probably have his own way of doing things based on his preferences and experience. If that is your comfort zone, go for it. The advantage to a Title Company is that this is what they do everyday. They use standardized forms/documents, will do a Title search for you, and just give you a feeling of comfort. That feeling is priceless.
And, should you decide to sell your note, you can provide a complete package to your note buyer.
