Servicing a seller financed real-estate loan

craigbenoit · July 2020

We are considering selling a current rental home to the tenant using seller financing. I saw the guide for setting this up in Quicken.
Does the Quicken software enable me to generate monthly, quarterly, and annual reports to the buyer similar to those generated by a Bank or commercial lender?
Can it handle escrow accounts for Taxes etc.?
I would like to be able to access these functions while traveling using an internet connection?
Is there a way I can see this specific module and run some practice loans through it?

NotACPA · July 2020

"Lender Loans" as they're called in Q, are only available in the higher level Q products.

SO, You'll need Deluxe or higher for this function.

An Interest vs Principal paid report can be generated at any time interval that you desire ... as can a report on the loan balance remaining (and, this shows how each Principal payment was applied)

For the traveling function, your BEST bet is to copy your Q data file from your desktop PC, and restore it to your "traveling" PC.

Escrow accounts can happen (I have one for my mortgage), but in your case they'd be a Liability account (you owe someone the money)

There is no "specific module", but Q has a 30 day refund policy: https://www.quicken.com/support/Terms-and-Conditions-For-Exchanging-Returning-or-Refunding-Quicken-Products

NotACPA · July 2020