Let me apologize for the long post you are about to read. I was given a call by someone looking to unload a home. Met with the individual (Mr A) yesterday and here is the situation.

Mr A is 1600 behind on his land contract and was taken to court by Mr B. The courts decision was that Mr A must pay $800 by this coming Wednesday and another $800 within the next 2 weeks or he forfeits the land contract & loses everything.

Mr A wants me to pay him 2k and he will sign over his land contract to me. Being that the $1600 is due to Mr B NOW and I would have to pay that first, Mr A said that I can pay him his 2k at a later date.

First I need to know if it is even legal for Mr A to assign his land contract to me and allow me to take over the payments? I asked him if Mr B knows about this deal and Mr B does not which obviously concerns me but I can understand where MR A is coming from because he stands to lose all he has paid into the contract and then Mr B has just made 1 years worth of profit and can start the land contract all over with another buyer.

At least this way Mr A gets some money back and I get a home on a discount because I would only be paying 1 years worth of a land contract @ $400/month + $1600 of back payments and 2K to Mr A.

Mr A is going to provide me with a copy of the land contract on Monday. According to him there are only 12 months of payments plus the past due $1600 remaining. Mr B has been paying the taxes he says (I would need to verify this for myself).

Like I mentioned, $800 is due to Mr B by this Wednesday so due to the short time frame I highly doubt I can even make this deal happen "IF" it is legal because I would want to get a lawyer to make sure my interest is protected.

I know in business you have be able to make decisions quickly and execute even faster but I dont want to put myself or my business in a bad situation. A part of me is questioning myself with "am I just being scared and lack the confidence needed to succeed or am I being smart and cautious".

All questions, comments, concerns, and advice is welcomed. Thanks for being an audience.