DOCUMENT PREPARATION
Loan Packages
From institutional lenders to lenders who offer seller financing, The Pettit Law Firm is the perfect solution to meet your individualized needs. All of our loan packages consists of a promissory notes and deed of trusts prepared to your specifications. Our real estate document preparation experts have years of experience preparing loan packages. We look forward to working with you through the closing process.
Promissory Note
A promissory note is a financial instrument that contains a written promise between a borrower and a lender for a defined amount of money with agreed-upon terms. The note includes a maturity date stating when the entire sum of money must be paid in full. A promissory note is held by the lender and includes all terms that must be adhered to by both parties for the life of the loan.
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Deed of Trust
A deed of trust is a security instrument that conveys title to real property to a trustee as security until the grantor repays a loan. Deeds of trusts are used in conjunction with promissory notes for the purchase of real property. It includes information regarding the borrower, lender, property, and the amount financed. The trustee under the deed of trust retains the right to sale the property in the event of a default. They are recorded in the property records in the county where the property is located.
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