After a brief back and forth between the seller's and HOA's lawyers, we got a letter stating that we the seller can sell the unit as a rental unit.The exact language states that "the board approves the request of the homeowners to sell the above referenced unit to be used as a rental unit".Now I am not a lawyer, but to me that is clear as mud.Should I expect the HOA to write a letter addressed to us stating that we can rent the unit and when we sell, our buyer can also rent the unit?

Let make it clear, such were acquired by a deed in lieu of foreclosure, not from foreclosure sales!

So, to be clear the only reason you would want the option to purchase is for a big developer to come along and want to take the park?

However as Jon H says, assigning the contract is an absolutely clear NO NO.

She owns it free and clear (maybe owes last year’s taxes) and we want to off load it.

She wasn't clear on the paperwork, but I am assuming it was an affidavit of heirship.

They could be in trouble for not releasing the lien, let the title company clear it up. :)

To be clear, my first deal is set to close later this month so I got ahead of myself saying that RE knowledge has been more profitable.

Now, because they own it free and clear, they could certainly rent it and have positive cash flow.

hello bp my name is juan bustos and I have read quite a lot off bp I have done flips in the past buying foreclousuresthis will be a fsbo property free and clear title owner wants 55k and is willing to wait until I sell property to get paid this is for rehab and flip question what kind of contract do I use to lock up this property