Legalities of an old deal
Hello there.. this is the situation..
Back in 1996, a family bought a house for about 128k. I looked through some paper work and saw that the first real estate loan they received was for about 105k. So that gives me an idea of what the downpayment was. Now, under all public records Ive come across, including propertyshark, the title was transferred for 37k. The old owner is listed as party 1 and the family (husband and wife) as party 2. It shows that the family acquired title for 37k, which means the seller was very motivated to sell. However, we know the family signed a deal for 128k. Its obvious someone wholesaled the deal and made a killing.. but Im wondering why it shows that the old owner transferred title to the family for 37k. Shouldnt the sale appear for 128? Afterall, the wholesaler must have been the one who acquired the property for 37.. Id appreciate some input on this.. thanks!