Contract/Hold on a mortgage loan.......
Hi all,
Had been reading a lot, but this is actually my first post. I have a family member moving outstate(early next month) for work reasons. He bought house two year ago as Brand New construction, value of house has gone up 40/50K (CMA done by my realtor). With the short time to move out state, I offer to take care of house. This include cleaning, painting and doing any repairs to get the house ready to sell and I can hold selling rights for 90 days. The owner dont care about the equity on it, his goal is to clear out the loan balance. I offer the option to pay 3 months of mortgage as long I hold the right/benefits to sell the house. Any money over the mortgage/note balance is mine.
Does anyone has done this kind of business before? Any lawer than can do this kind of contract? Its in the Atlanta area.