Due on Sale Remediation
Facing the Due on Sale clause? Creative TC has your back.
You got a due on sale notice. Panic ensues and underwear needs changed. Homeowners and buyers fear the worst: legal fees, foreclosure, damage to credit, losing the property. And worst of all, they have questions you can't answer!
Creative TC can help you. We have the answers.
We've helped others through this. We can help you, too.
Creative TC brings experience to your deal.
We make it our business to understand your deal
We host Zoom and phone conference calls to acknowledge everyone's concerns and answer questions
We identify and document the needs of all parties involved, and build a custom remediation plan
We educate and consult so you can make informed decisions
We help facilitate negotiations, corrective paperwork, and connections with attorneys, title companies, and loan servicing companies
Why Creative TC?
People come to Creative TC because they want things done right. Your deal deserves attention, not templates.
Creative TC helps you make informed decisions, because your creative finance deal isn't the same as the next.
Creative TC has in-house notaries and can record most documents directly with most county recorder offices.
Creative TC is the leader in quality, ethical creative finance real estate, and we can prove it with reviews and testimonials.
Q: Why does DOS Remediation need to be custom? Why not a template solution?
A: The plan has to take many things into consideration. Creative TC understands how each of these factors inter-relate.
Here are some of the things that can significantly impact how you can legally resolve due on sale:
The state
The deal type
The loan type(s): Conventional; FHA; VA; USDA, commercial, SBA, etc
The buyer and seller (and/or middleman) entity types
The intended and/or actual use of the property: rehab, LTR, STR, owner-occupied, etc
The lender(s) involved: small or big bank? private lenders involved?
The timeline
Length of time the current owner has had the deal
Future plans for the deal
Alternate exit strategies
How much cash was involved in the original transaction; how much do you have to handle
Is there trust between the parties (affects what alternate plans can be in place)
Is the seller still involved? willing to be? cooperative or resistant?
Tax implications: transfer/excise taxes, mortgage tax, property tax changes, homestead exemption;Â
Insurance: who's named? new policy needed? different type of insurance needed?
Balloon payments
RMLO/underwriting considerations
Title insurance: obtained? needed? voidable? can it be preserved?