Can I include late and other fees in a pay off statement on a owner financed home?

Since the home is in Oklahoma, the law governing what amounts you can add to the principal and interest you require be paid to you in order to get you to release teh lien of your mortgage, is Oklahoma law. You need to ask an Oklahoma attorney. Under California law, you would only be allowed to add late fees or other charges if either the promissory note or loan agreement secured by the deed of trust or the deed of trust itself, included provisions imposing such late fees or other charges. The exception to that is that if you have already recorded a Notice of Default or Notice of Sale, there are fees set by law in the Civil Code which can be added to the payoff amount. If you can't add them to the amount you are going to be paid in exchange for releasing the lien of your mortgage, then you aren't going to be allowed to add them any other way, either. Either you can collect them from the sales proceeds or you can't collect them at all. The mortgage is already a lien on the house. The title company probably will not close escrow until you and the seller agree on a payoff amount. If the title company closes escrow without paying you off in full, then you can still foreclose. You better be right about the payoff amount. If the sellers are unable to close escrow, because you refuse to accept the correct amount, then the sellers will be in breach of their agreement with the buyers. You could end up liable to the sellers for whatever they end up owing to the buyers for breach of contract. If the buyers walk away and the sellers end up selling the house for a lower price, you could be held liable for the difference, if you were wrong about the payoff amount. So you have strong leverage to get paid the amount you are entitled to under your loan documents, but there could be expensive consequences if you demand more than you're actually entitled to. If any of the amounts you want to charge are not specifically names as allowed in the loan documents, you better either drop them or consult with an Oklahoma attorney. If you appreciate this free advice, please remember to refer me to any friends or acquaintances who need a lawyer. Referrals are still our best source of new business. Do you have a revocable living trust to protect your heirs against probate? Probate takes forever, is expensive, and is annoying. Do your family a favor. Set up a trust, and put all your property, especially any real property, into the trust. We set up such trusts, provide a pour-over will as a back-up for any property that does not make it into the trust, provide you with blank durable powers of attorney for health care and financial decisions, in case you become incapable of making such decisions while still alive, and convey one piece of real property to the trust, usually the family home, for $1500.00. If you would like to hire me to do this, let me know, and I'll send you a list of the information I need. Dana Sack