Just get something signed that states that they understand that you are taking ownership of the property subject to the existing financing, and that their loan has a due on sale clause, and as a result in the change of ownership, their lender could decide to accelerate the loan.
Good luck,
Jeff
I think I saw those forms at:
1) Donkey ranch store
2) Bloomingdale's store
3) Big Bertha machines in Las Vegas
Funny guy. thanks for being such a big help.
Just get something signed that states that they understand that you are taking ownership of the property subject to the existing financing, and that their loan has a due on sale clause, and as a result in the change of ownership, their lender could decide to accelerate the loan.
Good luck,
Jeff
thank you jeff, you are a big help.