All Forum Posts by: Daphne C.

Thanks Fiancexaminer..

Brian..I have a property that I am thinking about selling with Owner Financing using the Wrap strategy. I was not sure if the buyer would secure their own insurance and if the taxes stay in my name.. Thanks.

Let me rephrase the question.

The current loan has an escrow account, so the mortgage company pays both taxes and insurance. When creating a wrap, should the escrow account be discountinued?

When you use a Wrap for Seller Financing, what happens in regards to Taxes and Insurance? Does the taxes and insurance stay in the seller's name as well?

I agree with Jesse. Since the values seem to change daily, look at the comparable sales that sold in the last 3 months. The comp websites are often very far from reality. In some areas, they may be accurate. But in other areas, they are not close.

It has been listed since November. There is something they are not telling you. Make sure you check out the house before making an offer (preferrably with a Licensed Contractor). You may end up with $20k+ worth of hidden repairs.

Congratulations. Great article. I wish you were offering this program before I moved from California to Florida.

Sorry for the confusion. I meant seller.

Thanks Jon!!

You are exactly correct. After speaking with the seller again, I was advised that he is being evicted by the bank.

He was working with, and I quote "A WE BUY HOUSES PERSON" that led him to believe everything was taken care of and they were waiting on some "final ppwk" from the bank regarding the Short Sale. The man stopped calling him about 3 weeks ago and will not return his calls.

Hello All. I am a New Wholesaler. This is the first time I have run into this situation.

I have a buyer that is going through Foreclosure. He has to be out of the house by Saturday. Is it too late to turn this into a wholesale deal?