Help me breakdown Substitute Purchase of a foreclosed property

[Saji Ijiyemi]

Can you please help me breakdown Substitute Purchase of a foreclosed property in layman's terms? Thank you.

• Substitute Puchasers Agreement Sale
• Purchaser shall be substituted as purchaser under prior contract
• Buyer shall be responsible for terms of the original purchase contract, along with assignment fee and buyer’s premium fee. See purchaser’s agreement contract of sale, along with original purchase agreement in the documents section.