For the purchase of an existing note, Directed IRA will need the following documents to fund the note purchase:
Direction of Investment Secured Promissory Note. The client must sign off on any updates to the DOI. Get a copy of that document here: link
Copy of the Original note.
A copy of the recorded deed (showing the borrower owns it).
A copy of the recorded mortgage.
Borrower's name, SS#, address, email & phone number.
The Purchase Sale Agreement
The buyer's invoice is needed so Directed IRA can wire funds to Paperstac escrow.
Allonge/Assignment of Note for this transaction. The document should show the IRA's legal name: (Directed Trust Company FBO 12345)
Documents such as the recorded deed can be retrieved from the seller during the transaction. Check the Files tab to see if the seller has previously provided these documents.
The Assignment and the Allonge will be generated after the data has been provided to create the Assignment and Allonge.
This step is in the to-do section. Both must be checked green for the documents to be generated.
If you need any help in this process, you can contact Paperstac support at [email protected].
If you need any help in this process from Directed IRA, you can reach them at [email protected].