All Forum Posts by: Account Closed

Thank you all for your recommendations. I have not spoken with Gary, yet. I have been swamped with the new projects.

@Michael Mason . An executive summary is really quite simple. If you are looking for an example to use to craft your own, I could send you a heavily redacted Executive Summary we used in a SEC filing we did.

@Mai Giang Dieu . Welcome, Mai. I know some people in the Richmond area who may be able to help you. If you would like, become a collegue and I will make some introductions.

@Jeff Lubeski . Jeff, you should be able to make arrangements with your propane supplier to keep the tank full. Depending on the size of the tank, and the average usage, the propane company will know how often they need to do a top-off.

I know that does not help with your current problem; however, it should prevent the same from happening in the future.

I think you are going to pay, this time.

@Steve Coffey . Welcome to BP. I started my REI career in Davenport in 1972. I now live in the Chicago area.

@Hector Perez . @Patrick L. summed it up nicely. I would not close and allow the current owner to live in a house that is unfit for habitation.

Did you ask him why he/she needed more time? I have run into similar situations and, in many cases, the seller did not have enough money to move. I suspect that is the case in this situation; the seller has been living there for two years in less than desirable conditions. I would try offering them "cash for keys", and reducing the offer by an equivalent amount.

@Brandon Turner . People who use Comcast may also want to check their spam folders. Just this week, BP started being directed to my spam folder. I corrected the error.

My livelihood does not depend on DF, at this point. My friend and attorney recently passed away, and I am still interviewing attorneys. My first question deals with their experience in buying/selling notes. The second is about DF. At least for now, I am going to engage the services of a licensed mortgage originator for all, SFR owner occupied, sales on which I want to carry the paper.

Thank you for your advice, Judge.

@Dan Seavey

@Dan SeaveySince you are trying to get control of this property, with no money out of your pocket, why not consider using a wrap-around mortgage? The title to the property stays in the sellers name until you cash him out with the 5 year balloon. You make a single payment to the seller and he/she in turn makes the payment to the bank on the $75k 1st.

I do not know the laws in the state of Maine, so I would run it by your attorney. Be sure to ask your attorney if you can register your interest in the land contract. Also, be sure there is no "Due-on-sale" clause in the sellers current mortgage.