Once you submit your contract, the bank is going to draw up their own REO counter offer/addendum and you would then have your buyer to sign it.

Less than 30 miles south in Monterey County the city of Salinas has been hit extremely hard with foreclosures and has subsequently seen a large number of sales as they get turned around and put back on the market - huge price drops in all of those areas have really drawn investors in as well, so much potential for rental property at bargain basement prices!

The subsequent transaction B to C is an entirely different close and is not required to be disclosed (some title company opinions may vary here).

Sec 453 certainly gives the impression of drawing a bright line for us--at first glance, anyway.

It may have just been my luck of the draw, which is what prompted my question.

And have the title office draw up the owner finance paperwork?

Other than that, like I said, I'll believe it (and worry about it) when I see it in reality, not some Sarah-like drawing, which is someone's biased interpretation.Let's stick to our rocks for now. 3rd rock from the Sun, that is

My question is, will I need to draw up another contract and assign it, or how does this work with the title company?

I have a line drawing with the drawings, illustrations and permit done by the planning man who helped me.

Ultimately, this will be disclosed during the title search and the subsequent closing anyway, you need only disclose that you are not on the title yet because it could spook your end-buyer. 2) I do not like using the term "double close" with an party to the transaction.