vballdarin 1 Report post Posted September 19, 2008 I had originally taked to a motivated seller back in May and tried to do a SLO on her house. The numbers weren't really great and she had a bridge loan which was coming due in April 2009 but she said she's been current with her payments. She had spoken to her lender and the lender said that they will work with her on it too. I decided it was a little too involved for me at the time. She has contacted me again through my advertising (she didn't realize that i'm the same guy she talked to months ago) and i'm wondering if I can do a CA with her instead. I'm confident I can get her from her $244,900 asking to the true value of $225,000(net). My only concern is that if I get it under contract with her and offer it to a tenant/buyer....am I setting that tenant/buyer up for a sticky situation? Of course i'll disclose everything i need to but I'm wondering how to go about this? Anyone have any ideas? Thanks. The other "motivated" seller i thought i had said that he would call me back to "maybe" go out and sign the papers. Result = no call. I'm moving on. Darin Share this post Link to post Share on other sites
MichaelC 160 Report post Posted September 19, 2008 Darin, you've already mentioned full disclosure. That's first. Then I would advise the t/b to either make the payments direct to the lenders, or to set up an escrow account with payment instructions. That should prevent any monkey business. Share this post Link to post Share on other sites
