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Updated almost 8 years ago on . Most recent reply

User Stats

122
Posts
33
Votes
Fahima Hilal
  • Real Estate Agent
  • rutherford, NJ
33
Votes |
122
Posts

Seller wants some compensation for work done

Fahima Hilal
  • Real Estate Agent
  • rutherford, NJ
Posted

I am looking at a re-foreclosure house. Seller is willing to take my offer and present to bank for a potential short sale. At the same time he wants a nominal compensation for work he has put in on the property. How do I structure the deal so as not to do something illegal, as I know I cannot get into another agreement on the side with seller. Could I have a partner enter into an agreement with him for some work to be done on the property or something similar ? Any ideas ? I dont want to let go of the house or get into trouble at the same time? 

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