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Updated over 7 years ago,

User Stats

4
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0
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Eric C.
  • Investor
  • Tyler, TX
0
Votes |
4
Posts

Need help with wrap around contract!

Eric C.
  • Investor
  • Tyler, TX
Posted

I've got myself into a precarious situation with a group of investors that turned out to be not so great. I bought a property from them with promises of a rehab and tenant being secured, along with 20% equity once they were done. I financed this property and made a full draw on my construction loan the first week after closing on August 29th. Since, nothing has been done to the property. After continuous inquiries on the status they now want to take the property back. Which I would be happy to let it go and wash my hands of the situation. The bank agreed to do a wrap around sale. I am looking for someone to review the docs (just a few pages) to ensure I do not get taken for a ride, again. Any help or advice would be greatly appreciated. Thanks in advance - Eric

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