Indiana Wholesale with a Rent to own Contract already in place
Hello!! I have a house that I am about to get under contract (purchase and sales agreement). But it currently is under contract to a tenant that is doing a rent to own. From 25,000 he owes 18,000. All Parties (current RTO tenant + Owner) have agreed to sell me the property (which I will not use my own funds, I will wholesale). The Owner of the property is on board and I have spoken to both parties via phone. They all just want to make sure they get whats theirs, so approximately $18,000 would be the owner of the property and $7,000 would be the current tenant that has the Rent to own contract. My question is, how will this work out at the title company and do both parties need to sign the letter of agreement contract? Any help is appreciated as I am new to wholesaling but very eager to learn. Thanks!!