Skip to content
×
PRO
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
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Innovative Strategies
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 over 9 years ago,

User Stats

36
Posts
2
Votes
Patricia Mclean
  • Investor
  • Jonesboro, GA
2
Votes |
36
Posts

My Seller can't come to closing

Patricia Mclean
  • Investor
  • Jonesboro, GA
Posted

Hi BP I have a seller who wants me to take over her payments. She owes around 94K and payments of $962. The house is occupied and tenant has been there for 5 yrs. She charges 850 in rent. The value is between 98 and 120. Payments are current. She has made improvements and I believe that I can' raise the rent to at least 1k with a lease w/option if the tenant does not want to stay and pay the increase in rent. The seller is ill with a chronic condition  and cannot travel to sign any documents so I'm a little stuck. Do you think I should fed ex the docs to her to sign or travel to Florida? Also, what docs should I send if I fed ex them? I'm in GA and she is in Fl a 4 hour drive. She said she is willing to deed me the property and I am not sure what kind of agreements should be signed.  Seeing that she just wants me to take over everything, do I even need her to sign a purchase and sale agreement at all and use a attorney because she can't travel. I just want to make sure I do this right. Georgia is an attorney state so I would have to close here but, seeing that she lives in Florida I'm not too sure how to handle it.

Loading replies...