have a motivated seller willing to owner finance
problem is she is waiting for probate to go thru and she stated
that she got a letter of default from her lender
lender says they will not wait for probate wants family to keep making
she owes 23k on it arv around 100k
how can I tie this property to stop fore closure
willing to pay off mortgage as down payment
You can cash the bank out before it goes to foreclosure.
how much are they backup up how many months?
can I cash out the bank if it is still on probate
Juan - once you take the pressure off of her by curing the foreclosure, she may not be so motivated.
You could step into her shoes and have her assign her inheritance over to you. Of course, if you do this there may be unknown creditor claims that you might get stuck with.
something to think about she was pretty motivated this am when she called
I send her a letter mon so she replied quickly she has her own house so I need a way to tie up this house
tks for the advice she lives out of town will be meeting in 2weeks
Im not much of a gambler, but I'd wager her emotional state of mind will be completely different in two (2) weeks time!
Figure out how you're going to work the deal, draft your documents, and execute. You can get a mobile doc signing service. Don't fiddle around.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!