Proper Forms To Use, Foreclosure, Short Sale
I am working on a deal right now. I have received the authorization from seller to talk to his mortgage co. I have received the short sale packet from his mortgage co. Before I really get into it, I know I should have him sign over a GRANT DEED correct? Should I have him sign a DUE ON SALE agreement? Also, I want to give him some cash upfront $5k and the rest when I either sell the home or refinance it. What form do I use for that? The home is mortgaged at 136k and is 7 months behind. The bank is being awesome due to it is going to trustees sale on the 18th of july. I think I can get them to agree to 100k due to the house is a piece of doo doo. ARV is 310k but I could just sell it for 200k as is I think. Your guys help is so appreciated as this is my 1st short sale, purchase, flip, etc. and all I know is what I have read in a book and online.
[ Edited by gobosh on Date 06/28/2007 ]
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