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Eric Cruz
  • Hanover, MD
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Wholesale deal question

Eric Cruz
  • Hanover, MD
Posted Jul 29 2016, 06:04

So.........a first time flipper contacted me in Baltimore about selling a house that they fell way behind on and had to take general contractor to court which took a year, they finally settled and finished the house. They owe a money lender $220k and have to sell now. I offered 170k, my question is if they take this deal and I close would they still be responsible for the $50k difference or would that debt move over to the new owner of the property?

P.S. I'm wholesaling this deal.

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