Hello to all of you out there.
Does anyone know where I can find a Free copy of a Vendor Finance mortgage contract that I would be able to use to complete a wrap?
Any help with this would really be appreciated.
Kindest regards
Nathan Danker
Nathan you will never live up to your Nickname if you just use free legal docs that aren’t tailored to your needs.
Simon Macks
Residential and Commercial Finance Broker
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Nathan Which State
Cheers Richard
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Richard Taylor | Australia's leading private lender
Hi Nathan
Using a free copy of an Instalment Sales Contract tends to make me think that you be contemplating sitting down at the kitchen table with your wrapees where you will get them to sign all the contracts and bingo it’s all done. This is the shortest route to ending up on Today Tonight as one of the “monster wrappers” out there!!
The preferred method is:
1. Find a specialist wrap lawyer in your state. Many people here on this forum will give you all the correct recommendations.
2. When you find your prsopective wrapees, get your solicitor to prepare the Instalment Contract, the sales contract, the UCCC paperwork, etc, etc and send it off to the wrapees solicitor. It is absolutely imperative that your wrapees get independant legal advice.
3. Our solicitor charges us $660 to prepare all this and complete the exchange of contracts. We’ve heard of charges up to $750 but it’s a small price to pay to have everything done right.I also suggest you consider joining the Vendor Finance (Wraps) Association of Australia. You can find their web site at
http://www.financewraps.asn.auGood luck with your new, professionally based, vendor finance business
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
I would NEVER do what is knows as a kitchen table close on a wrap.
PaulDobson is right, and in my opinon they look sloppy and unprofessional. Also people will take the wrap alot more seriously when they have to get legal advice, and so in fact, could be less likly to default.
Hellman
Dear Paul,
Thank you very much for your previous reply which referred me to the Wraps Association.
One thing though.
How do you get through to them?
I’ve been calling and calling and calling and everytime I do it just keeps on either hanging up or you get that disconnecting sound.
Would you please give a go for me and let me know how you go?I’ve also sent them two emails only to receive nothing.
Something must be up, it seems a bit suss to me.
Would you please let me know?Otherwise, would it be alright to get the contact details for your solicitor?
I’d really appreciate it.
In the situation that you get through to the Wrap Association would you ask them to contact me on 0429 481 549.
I’d be really grateful.
Thanks again and kindest regards
Nathan Danker
The VFA is only a small organisation with the office holders volunteering their time (i think anyway), so you can’t really expect too much from them.
Terryw
Discover Home Loans
Parramatta
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Hi Nathan
Terry is right concerning the VFA and it’s volunteer office holders. Drop them an email. They will get back to you eventually.
In the meantime, we use Tony Cordato in Sydney. His contact details can be found at:
http://www.businesslawyer.com.auHowever, if you’re not operating in NSW, let the forum know and I’m sure somebody will recommend a wrap savvy lawyer in your state.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
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