All Forum Posts by: Account Closed

Hello BP, could someone be kind enough to tell me what to said to banker, default attorney, property management company and negotiators that i wanted to do a wrap around mortgage with their defaulting mortgage because i think they will prefer that their making money asset is not going to be gone?

Hello BP, i'm planning to do a wrap around mortgage in Malaysia but there some difficulty when it came to transfer the property title to the buyer, according to some attorneys i talked too. So here a thought before i asked my attorneys, is it possible to not transfer the title to the buyer until they paid off their "loan" to me and the seller loan, while still living in the property. It not a rent but they will be something like a confirm future ownership or book the property so i cannot sell it to any other buyer. 

What do you think?

The title said it all but if it is, then i can do Wrap Around Mortgage because it just finding a buyer right?

Has anyone in BP ever done a Wrap Around Mortgage transaction in Dubai before?

Hello BP, i wanted to know how to convenient the bank/lender to allow me to do a wrap around mortgage with the seller who is entering the pre-foreclosure stage or maybe just tried of paying the installment but cannot sell for various reason, and for me to find a buyer to earn profit from the difference interest rate? 

I see. 1 more suggestion please. Other than local REIA?

Hello BP, i want to do a wrap around mortgage by getting the property from seller & find a buyer, but no attorney in the areas have any experience in this transaction. Do you think its a good idea to find an attorney, explain to him my needs & allow to do some research before i actually look for motivated seller?

I recently talk to an attorney regarding subject-to and he told me he cannot do a quick deal. Now this is not logical to me because that would imply that he and his associate have never done a quick deal like a pre-foreclosure and any urgent deal. Doesn't normally attorney prefer a fast transaction because the longer time require longer works? 

Hello BP, i plan to have the seller transfer his property title to me and then i find a buyer for a "Wrap Around" mortgage transaction. My question is, it is possible that i can transfer the title immediately and the transfer occurred between me and the seller when i managed to find a buyer? Another question is, if it is possible, am i still going to paid for the solicitor fees and others like a normal transaction because this transaction is like a IOU/ Promissory note to the seller, me and buyer, right? 

If i managed to get the seller property by paying his mortgage and then i seller finance the property to a buyer. Will there be any usual PSA transaction when the seller give me his property title? And there is a PSA when i seller finance the buyer right?