THE Wally Wrap SYSTEM
Wally Wrap – The System
Designed 30+ years ago by Wally Tingley one of Texas’ best known residential real estate closing attorneys, Wally Wraps™ are proven, non-qualifying seller financing transactions which have been utilized for more than 100 years as effective sales tools in commercial, raw land and residential real estate transactions.
The Wally Wrap System incorporates extensive real estate & legal experience, proven & specialized documentation and closing expertise.
Wally Wrap – How It Works
Under Wally Wraps, an existing seller’s loan(s) are not assumed by the buyer, but a seller financed loan is stacked on the Prior Note(s).
The Seller remains fully obligated for payments under the Prior Note(s) and no relationship is established between the buyer and seller lenders.
The Buyer’s obligations are limited only to the terms of the Wrap note, which is payable to the Seller.
Who's a Wrap Seller?
A motivated Seller includes:
- Investor
- Sophisticated Seller
- Retiree
- Job Loss
- Relocation
- Divorced
- Those who want to close fast!
Who's a Wrap Buyer?
A motivated Buyer includes:
- Sophisticated Value Investor
- New College Graduate
- Bankruptcy
- New Business Owner
- Divorced
- Bad credit
- Those who want to close fast!
Who's a Wrap Seller?
A motivated Seller includes:
- Investor
- Sophisticated Seller
- Retiree
- Job Loss
- Relocation
- Divorced
- Those who want to close fast!
Who's a Wrap Buyer?
A motivated Buyer includes:
- Sophisticated Value Investor
- New College Graduate
- Bankruptcy
- New Business Owner
- Divorced
- Bad credit
- Those who want to close fast!
Wally Wrap – To Do List
BE A MOTIVATED Buyer and/or Seller.
- Seller Motivations – URGENCY: Out of area move, divorce, job loss, behind in payments, medical expenses, impending new home closing.
- Buyer Motivations – HAVE CASH: 2 years from bankruptcy, credit issues, new business owner, divorce, sophisticated leverage investors.
PROVIDE DEAL TERMS TO OUR OFFICE. We will prepare and facilitate the exclusive Wally Wrap “no risk” contract. Parties attend Pre-Closing Conference for detailed explanation of Wally Wrap, financing dynamic, issues and procedures. On parties approval, closing is scheduled for 8 days or later.
Should either Buyer or Seller choose to terminate after Pre-Closing Conference, the contract is terminated at no cost to either party.
Parties pay closing costs that are LOWER THAN NEW LOAN CLOSING!!!
Let us lead you through the process. We are the Wally Wrap™ experts so you don’t have to be.