What To Do Next?
I've located a house in so cal that is going up for auction on 9-10-03. The FMV is $175K and the owner owes $115K on 2 TD's plus Arrears. I'm taking over an Equity Purchase Agreement tomorrow. If I plan To give them 10K and 30 days to move, as well as keep 20K for myself. Can I do this and how do I? Any help PLEASE!!!!
First things first, get an AUTHORIZATION TO RELEASE MORTGAGE INFO for their bank(s), then be sure to get the exact payoff ammounts. Get the title search donw. If you are paying cash, it shouldn't be a problem. If you need financing, you'll need the 30 days to go get it: in that case you will need to show th bank your offer, and have them push back the auction date.