OfflineI met a homeowner yesterday when I was looking at another property. she hinted they wanted out of their house but owes what its worth.My thought is just taking over their payments & they want 2000 to move into a new house.What contracts would I use on a deal like this.
Thanks DGers
Matt B
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value of property?
pymts current?
need to see mortgage statement
inspect property
repair cost?
do you have a buyer?
called "sub-to"
RE forums of "sub-to"
contract w/ sub-to in it
also need quit claim from seller
see Randy428... use forums and search box for details
need to have mortgage statement change of address to your address so you can make payments
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
http://www.deangraziosi.com/node/10010
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
Also could lease/option. Use option money from your tenant/buyer to give $2000 to the seller. See if you can negotiate 2 year lease with 4 optional 2 year terms to be exercised at your option. That way if you are in an area where values may still decline, you avoid the possibility of going upside down.