All Forum Posts by: Randall E Collins

Currently, I have a homestead on my property so my taxes are not too high. And up-to-date. The homestead should remain in place when I'm gone because I will still be the owner. As I just mentioned to Mr. Seveney the buyer seems to know what needs to be done. All I can do is trust him, I'd say so long as he's happy I'll be alright in the end.

Thank you, Mr. Seveney, If my memory is correct you and I have chatted in the past. As I was a Hole-Seller, LOL. I agree, hiring a real estate attorney would be the best way. However, I survive on a limited small, fixed-income. As such hiring an attorney is out of the equation. I had hoped to do this myself because I am good at drafting contracts. Maybe I'm putting the cart before the horse by asking questions. The buyer is an experienced investor. Yesterday he mentioned that he knows someone who can draw up a contract. For now, I suppose the best I can do is hide and watch.

This post is directed toward professionals who know real estate in and out. I own land and a fairly new mobile home in Henderson Co. Texas. I have stage four COPD and I'm not expected to live much longer. My daughter is the sole beneficiary of all my belongings upon my death. However, I have received an offer on my property from a very good and trustworthy friend that I have agreed to accept. I have spoken with my daughter and she has agreed as well. He has proposed to pay me a certain amount towards the sale of my property until my death. If I die before receiving the full purchase amount my friend will pay my daughter the remainder. Would someone please tell me what sort of contractual agreement should I draft and or title?"

 Am I to assume you are content with the current mortgage rate being so darn high that it's out of this world and out of the financial reach of most home buyers? We can give thanks to the current powers that be for the high rate. Hopefully, prayerfully, when the next powers-that-be take office, the rates will drop once again and make home buying great once again.

 I don't know how much help I can be. But I'm a wholesaler in East Texas that might be able to help you some. I've been at it off and on for nearly five years so I know a good bit about wholesale. If you'd like to chat send me a message.

Hello Jay, I haven't heard from you in a really long time. I am not even considering helping him sell as a wholesaler. That's way over my head. At the high price he wants for the property, I'd never be able to find a buyer anyway. It's just something I want to help him with as a friend. He would surely compensate me out of his pocket. But that's not my main objective. He wants to for by owner without a RE. And would do owner finance. The syndication gig is my idea. Because it's nearly impossible to find a buyer at the price he's asking. He's willing to lower the price to 5.5m, but that's still too high for my blood.

There's no fly fishing where I live but there's a fairly large lake for bass or catfish fishing. You'd fit right in with our cowboy hat and boots