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sandwich lease closing attorney

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#1 tldickens



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Posted 01 February 2018 - 11:04 AM

Good afternoon.


I have 2 questions that I desperately need help with:


1. Are there ANY closing attorneys in NC that will close a sandwich lease???  I have searched high and low; no luck at all!


2. Is it necessary to disclose to the seller exactly how much profit you are making from the sell of their home? Or just that you will be making a profit?


3. Is there a way around getting a "note" from the seller that he will give me the difference of what he's selling for and what I secured a buyer for? (example: seller wants $50,000. I found a buyer paying $65,000. I get a promissory note that the seller will give me $15,000 after the deal is closed)



#2 MichaelC


    Makes a mean Lasagne!

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Posted 01 February 2018 - 06:30 PM

1)  I'm in Florida, so I can't say. Have you tried a title company?  What about a local real estate club?  I have to think that would be a source for an investor friendly attorney.  Also, send a message to an investor friend I know in NC, (he's also a Realtor).  He might be able to help.  His company is Triad Management Realty.  His email is TriadMgmtRealty@outlook.com.  

2)  Is it necessary to reveal your profit?  No, although the homeowner will eventually find out.  But so what?  If the offer you made is acceptable to the homeowner, your making a profit has no effect on that.  He understand, I would think, that you are not a religious organization, but you are a for-profit business.

3)  You can handle the closing in several ways to assure you are paid.  Speak with the attorney to you are paying to protect your interests in the deal.

#3 <Steve>


    Wheelin' and Dealin'

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Posted 02 February 2018 - 12:31 AM

Hi tldickens-


If you are still looking for an attorney in the Triad area you may want to try and contact Brian H. Elam,The Elam Law Firm.  He is investor friendly and attends the RE club meetings.  He works about 20 counties in NC and knows Lease Options.

web site:  Innovative Closing Solutions


So MC, Super Bowl Sunday this weekend!  :D Who do you have your money on?  :ninja:

Just a kid living the dream

#4 MichaelC


    Makes a mean Lasagne!

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Posted 02 February 2018 - 05:59 AM

Hi, Steve.  Good to hear from you again.  Ahh, yes, the Super Bowl.  Something my Giants are far, far removed from.  The conundrum I face is that as a Giants fan I detest the Eagles, division rivals that compete twice each season.  I'm not a Pats fan, either, but I have to respect what is the greatest dynasty in professional sports.  B&B just keep on rolling.  I do not want to see them hoist another Lombardi trophy, but it comes down to the lesser of two evils.  Plus, I want at least to be able to say that the only team that could stop the big, bad Patriots were my Giants. . .not once, but twice!   B)

So for this Super Bowl, I'm saying, "Go, Pats!"

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