Out Ot Town Distressed Seller
I am running into a couple of situations where the seller in foreclosure is out of town. How can I get the seller to work with me and follow my gamelan. I would not mind allowing them to claim some of there equity but I don't want them to try and cut me out of the deal when I send a buyer there way.
Any thoughts on how to make this a win-win transaction? How can I protect my interest?
If you have your paperwork signed that will protect yourself. The paperwork you need depends on what exactly you are trying to do.
GOOD LUCK
A purchase option could protect you. OTOH, if you are just looking to send buyers to look at a distressed property and hoping to broker a deal between them and the owner with you getting a piece of the pie, you may be treading in dangerous waters. In many locations this type of deal would require you to have a RE Broker's license.
Quote:
On 2004-05-05 22:57, aressllc wrote:
I am running into a couple of situations where the seller in foreclosure is out of town. How can I get the seller to work with me and follow my gamelan. I would not mind allowing them to claim some of there equity but I don't want them to try and cut me out of the deal when I send a buyer there way.
Any thoughts on how to make this a win-win transaction? How can I protect my interest?