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Updated over 7 years ago on . Most recent reply

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13
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1
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Keith Lewis
  • Boynton Beach, FL
1
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13
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Proper way to cancel a Contract for deed/mortgage?

Keith Lewis
  • Boynton Beach, FL
Posted

Recently found a property with owner financing. The owner sold the property to an individual and had a contract for deed. They ended up getting divorced. The wife hasn't paid him in 6 months and he offered to sell it to me if I could get her out (he is so CHEAP!) 

I negotiated and offered the tenant cash for keys. They agreed to my terms and will be leaving in January. Now, I already agreed on a price, downpayment & contract is signed. How should the owner cancel the contract for deed? Since they left in a cash for keys scenario how should this be canceled properly so I can hold a clear title?

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