Hi everyone,I need some advice please.Due to unforeseen circumstances I need to sell a property that I was rehabbing.The property will need cosmetic repairs to finish,but I will be selling as is.I contacted a Realtor that said he may be able to find cash buyers/investors to purchase this property from me.I'm great at fixing up houses but lousy at understanding legal documents or contracts.The Realtor handed me an Agreement to Assign Contract for Sale and Purchase.I took it to a Real Estate attorney and he left me a voice mail message saying that I do not need to sign the assignment agreement.This is where I am confused.How can I agree to sell to an investor without signing anything?

As far as running into unforeseen expenses, they keep back a portion of the total budget as reserves.

Cost over runs can happen anywhere, its the nature of the beast, a fun statistic: 83% of all "contingency" money over a span of millions of renovations completed homeowners were able to use there funds for "elective" material upgrades, not due to unforeseen, you ask how is this possible?  

You will obviously make some money for "sweat equity" and will not have to take on unforeseen liability for the debt to build and then carry the home. 

I put away 15K just in case for some unforeseen issues, and worst case scenario I could cash out refinance the property.

Yes, I sure did. it was to pay for additional administrative and/or additional activities required which were unforeseen at the time the lease was made, the agreed rents were also a tad under market rents and fees were not cumulative adding one infraction on top of another, so even with additional charges rents were not excessive.The basis was for the time required to address these unforeseen matters, charge was by the hour and the time spent or claimed was actual or my estimate and never excessive and was rarely used.The lease was approved under HUD regulations by/and our City Attorney for low/moderate income tenants under an economic development program where a "funny money" loan was assumed on the property, I bought the property from the city.  

It could all go toward unforeseen items and/or building a cushion?  

I'd like to save approximately 10% to cover unforeseen repairs, etc.

It won't even be accusatory, simply a story about how you solved an unforeseen problem.

Hello everyone,Planning to start shopping for my first property in February 2020 and I had a question about lender/mortgage approvals.Long story short, I took out personal loan of $7,000 in July to cover some unforeseen expenses.Will a lender see this amount (roughy $6,200 by February) and only allow me to use what I’ve saved up less $6,200?