
12 April 2020 | 11 replies
Worse, even if your right in your analysis, that doesn't mean the other party will agree.

12 April 2020 | 8 replies
Depends on the State Regulations. 6.Seller SecondsThis is a mortgage issued by the seller to the buyer that is placed in a subordinate or second position to an existing first mortgage from a conventional lender; seller second can be a great incentive to buyers; can help them purchase by putting down less cash-leveraging their assets; second mortgages typically carry a higher interest rate than first mortgages, an advantage for the seller over other investment options; a seller second can open new opportunities for buyers in markets where conventional lenders are tightening their loan to value guidelines and buyers need a way to close the resulting financing gap; lenders who want to limit their exposure may agree to a "Combined Loan to Value" guideline that supports a seller second; seller seconds may help buyers reduce their conventional loan needs below the PMI (private mortgage insurance) level, saving significant dollars per month; seller seconds can also help in larger purchases, reducing the amount buyers would need to borrow conventionally, bringing their remaining loan requirement within reduced rate "jumbo" loan territory; some conventional loans prohibit secondary financing; second loans not disclosed to conventional lenders are illegal.sellers granting a second loan must file a lien on the property. 7.Lease with Option and Lease PurchaseA lease with option to purchase is an agreement that the leasing party can buy (or not buy) the property at lease end for an agreed price; a lease purchase agreement, the leasing party commits to purchasing the property immediately at lease end; the owner agrees to apply a portion of the monthly rent payment toward either the buyer's down payment or closing costs at time of purchase.

19 July 2020 | 13 replies
There are laws against outside parties interfering with contracts.

13 April 2020 | 43 replies
The seller offers a split for the buyers agent who come alongside, when the sale is escrowed each party takes their fee.

25 June 2020 | 8 replies
I agree with having an exit clause drawn up and allowing the buy out from either party.

12 April 2020 | 7 replies
If that wasn't done and the split is an amicable one, then presumably a buy out is negotiated among the participants which can be structured as the parties see fit.

11 April 2020 | 2 replies
We are still under 3rd party financing contingency, collection seems to be strong (according to broker) and we are getting a new roof, and some credits.
12 April 2020 | 7 replies
I get an idea of what is on record thru county recorder website and 3rd party vendors like Black Knight or Datatree.

8 April 2021 | 10 replies
As jamie just noted I did a webinar yesterday on this topic on showing investors how advantageous a partial can be for all parties involved.