All Forum Posts by: TamaraFaye Smith

@Mike M.

Thanks

How do I look up if a offer or a purchase has been made on a property?

@Tim Herman

Found them, thank you!

@Tim Herman

Files section on this app?

@Tim Herman

Thank you

Is a lawyer the only person who can draft a option contract or is there other alternatives to get a hold of one?

@Andy Mirza right I expected there to be no loan because after I asked him was he the owner and were any banks involved he said no banks but he had taken a second mortgage. Which doesn’t quite add up. It is a FSBO so maybe he wants to sell to pay off 2nd mtg. As well. He is renting it out and said the reason for selling is tired of tenants. I’ll have to gather more info on the situation. But you did answer my original question. Thank you.

@Jason DiClementey yes my point exactly! I just didn’t understand at 1st what was the difference but now I see there has to be a bank involved.

@Wayne Brooks so the second mortgage takes place of the 1st?

@Andy Mirza okay thank you! I understand the two being separate now and the purchase price has to exceed anything owed. But what I’m still a little confused about is if the owner of the home has a second mortgage on it then doesn’t that mean he is paying a bank for his home? So a bank is involved? I’m asking because my preferred route was to go with no banks to eliminate time and more paper work. Also what is the difference between a 1st mortgage and a 2nd one? A second one is taken out after the first is paid off?