Pls Need Lien Letter "Sample" ASAP
Hi Sub2 Gurus, I have being approved ss today then try to contact my investors . The investor like the house and said " aaliyah I like to do Sub2 and will pay you assignmt fee"10k" so How do I protect my deal eventhough he sound a very nice guy. Should I put Lien on the propertty ? Or what ? Please help me
I am a little confused by your post.
You said you did a short sale. Was this a first lien or a second lien?
Do you currently have a purchase agreement on the property?
If you do then you can put together an addendum with the necessary changes your investor wants and then assign the contract to your investor for you fee at closing.
This is depending on how you arranged your short sale..
If you could provide more info then we may be able to give you better advice.
Hi tbelknap, I just want to let you know the short sale was approved it today but investor wants to go Subj2 so how to protect your contract if the investor is going for subj2 ?
Or you can do both. Cloud it, assign it and clear the title with a Quit Claim at closing when you get paid.
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