Motivated seller and how to proceed ?

[Zaher Muhareb]

I have been talking with someone that is about to get a foreclosure on his property he has owned it for about 8 years and has some equity, I am a newbie investor who wants to get the house and put some money into it and get it rented out. How would I proceed with this opportunity here should I maybe go talk with a real estate lawyer? I want to proceed with seller financing put some money down and want him to get out of foreclosure and make him happy by getting him something out of the deal as well. Any advice on how to proceed?

[Huong Luu]

@Zaher Muhareb, Definitely talk to a RE lawyer (I would recommend Barry McGuire, who is also located in Edmonton) about AFS (Agreement for Sale). If there is enough equity in the property and there is value, then you should be able to structure the deal that will benefit both of you.