Protecting your interest while negotiating with lenders
I submitted a question to William via Private Message and we thought it would be good to share it with all of you:
[b]Hi William,
I was reading a few of your posts and short sale presentation files and I had a question regarding the deed transfer to an LLC. I understand the power one would obtain by transferring the deed to their LLC, but wouldn't a much easier way to protect your interest in the property while negotiating the short sale be purchasing a $10 Option to Purchase from the homeowner. I would assume a simple option agreement would be easier on the homeowner than a drawn out Land Trust Agreement?
I've just started my investment company here in Portland and I've got a couple short sale deals in the beginning stages...the Option to purchase just sounds like a more streamline way to protect my interest...your thoughts?
Thanks![/b]