Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 17 years ago on . Most recent reply

User Stats

29
Posts
0
Votes
Brian Freddyson
  • Investor
  • Edmonton, Alberta
0
Votes |
29
Posts

any comments on this type of acontract for a preforeclosure?

Brian Freddyson
  • Investor
  • Edmonton, Alberta
Posted

each month for 5 months i get $4000 +/- negotiable (i will recieve this at the closing sale. i make the payments that you are

behind on for you. this will give you time to sell your home. if after 5 months you dont sell your home, i will get the house for

whatever you owe on it minus $10000 and you wont owe the 5 months worth of payments of $4000+/-. you will get to save

your credit rating and have money to boot whether or not you sell your house after the 5 months. If however you manage to

pay off all the debt on your house plus whatever i paid onyour debt before the 5 months are up you will get to keep your

house, but you will still owe me the $4000 a month on top of that. this way you get the chance to save your credit, possibly

keep the house, and get a chance to sell your house for what t is worth allowing you to keep most of the equity.

-------

how does this contract look? if anyone had a pre foreclosure and were desperate to save your credit, would they want to agree to this contract?
Any possible problems or issues with this contract i should concern myself with. any comments are appreciated.

Loading replies...