Investor Purchase Tomorrow - Sound Advice Needed ASAP!!

---

Posted by Bulldog on February 13, 2003 at 01:33:08:

My foreclosure was stopped on 2/4/03 with a cash "Sales & Purchase Agreement" from an investor. Now, the investor wants to give me $15k in cash, reinstate my 1st & 2nd and make monthly payments on these loans, and have me sign over a warranty deed to him tomorrow. Since this is not an official loan assumption, but a temporary plan whereby the investor intends to re-sell my house in 3-6 months (per the contract), is there any paperwork that I need to have the investor sign to protect myself? I've heard of other people doing this type of deal, but want to make sure there are no hidden land mines. Thanks!

Follow Ups:

---

Name    : 
E-Mail  : 
Subject : 

Comments:
: My foreclosure was stopped on 2/4/03 with a cash "Sales & Purchase Agreement" from an investor. Now, the investor wants to give me $15k in cash, reinstate my 1st & 2nd and make monthly payments on these loans, and have me sign over a warranty deed to him tomorrow. Since this is not an official loan assumption, but a temporary plan whereby the investor intends to re-sell my house in 3-6 months (per the contract), is there any paperwork that I need to have the investor sign to protect myself? I've heard of other people doing this type of deal, but want to make sure there are no hidden land mines. Thanks!


Optional Link URL : 
Link Title        : 

Foreclosures Section

Foreclosure Help

Foreclosure Investing

Real Estate Articles

Our Site Resources

Discussion Archives