In its simplest terms, a promissory note is a written promise to pay back a loan at a specified interest rate within a certain amount of time. The promisor is the person who is making the payments and the promisee is the person who is authorized to receive the payments.
Some other information that is often found in a promissory note is a stipulation that the promisor will pay any attorney or collections fees if they should fall behind on payments as well as any penalty fees which might be added to the note if payments are late.
We can’t say it enough how important it is to your investment business that all these terms are written down, agreed upon, and notarized.
As always, our attorneys make us say it… these forms are for reference only and you should always pass any forms you use for your business by a competent attorney in your local area to make sure they jive with all state, federal, and local law.
Download free Promissory Note template
Download Instructions:
-
Right click on the download link below
-
Click “Save As” or “Save Target As”
-
Save it to your computer
You must be a member to download.
If already a member you can login at the top of the blog.
If not yet a member you can go here to Join for free.
Go ahead and download the free Promissory Note above and return the favor… tell us what’s been working for you in your market! Just post a comment below or shoot us a message through our contact page anytime letting us know about your successful marketing piece.
Remember to subscribe to our RSS feeds and our newsletter to make sure you don’t miss out on any new updates for real estate investing marketing pieces, checklists, tools, resources… and other great stuff that will help you get an edge in today’s real estate market. No… serious… click on through and subscribe … it’s FREE!
tHANKS WAITING FOR THE TEMPLET???????????