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REAL ESTATE PROMISSORY NOTE DATE:August 16, 2016BORROWER(S):Alice L. Taylor 2303 Staunton Dr. Bryan, Texas 77803LENDER:CITY OF BRYAN, TEXAS Community Development Services Department 405 W. 28th Street Bryan,
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How to fill out real estate promissory note

01
To fill out a real estate promissory note, follow these steps:
02
Start by adding the date on which the note is being created.
03
Include the full names and contact information of the parties involved - the borrower and the lender.
04
Specify the principal amount being borrowed and the interest rate, if applicable.
05
Decide on the repayment terms, including the amount of periodic payments and the frequency of payments (monthly, quarterly, etc.).
06
Determine the due date for the final payment or the maturity date of the loan.
07
Include any additional terms and conditions, such as late payment penalties or prepayment penalties.
08
Have both parties review the note thoroughly and make any necessary revisions.
09
Sign the promissory note in the presence of a notary public or witnesses, depending on the legal requirements in your jurisdiction.
10
Keep copies of the signed note for both the borrower and the lender for future reference.
11
Remember, it is advisable to seek legal advice or consult with a real estate attorney while filling out a real estate promissory note.

Who needs real estate promissory note?

01
Real estate promissory notes are needed by individuals or entities involved in real estate lending transactions.
02
These can include:
03
- Lenders, such as banks, mortgage companies, or private individuals, who provide loans for real estate purchases.
04
- Borrowers, who require financing for purchasing real estate.
05
- Real estate investors who lend money to other real estate investors for property acquisitions.
06
- Individuals or entities involved in seller financing, where the property seller acts as the lender.
07
In summary, anyone involved in a real estate transaction that involves borrowing or lending money can benefit from having a real estate promissory note.
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A real estate promissory note is a legal document outlining the terms of a loan agreement between a borrower and a lender, specifically for a real estate transaction.
The borrower is required to file the real estate promissory note.
To fill out a real estate promissory note, you will need to include information such as the loan amount, interest rate, repayment terms, and signatures of both the borrower and lender.
The purpose of a real estate promissory note is to serve as a legally binding agreement that outlines the terms of a loan for a real estate transaction.
Information such as the loan amount, interest rate, repayment terms, and signatures of both parties must be reported on a real estate promissory note.
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