Paying A Seller Post-Closing

[Mark Graffagnino]

I've got a potential unusual situation on a deal. i had an offer accepted on a vacant house; owner is in default on the loan and way upside down. The lender told him "make us an offer" to buy the property outright. He got the lender to accept less than what I agreed to pay for the house and was going to pocket the difference....kind of like a wholesaler's fee. He is afraid that if the lender finds out he is getting some money at the closing they will kill the deal. Part of the spread is going towards paying off tax liens.

Has anyone ever done a deal like this and paid the seller a fee post closing? I'm thinking I might need some consulting/marketing services done after the closing and the seller would be the perfect guy to do that.

[Wayne Brooks]

Be very careful, as you'll be signing an Arms Length Affidavit saying the seller is getting no money and there are no side deals.