There may be some time limit when that becomes impossible, but I no idea when that is for your area.However, if these are in Maryland, you better check the Maryland foreclosure law.

I have already filed law suit, but can't locate Kevin Geddes.

Thanks Wheatie, We're going to have my father-in-law visit the property with us for a 2nd opinion, he's pretty handy as well.

The general answer to this sort of question is that you need to find out the local laws and be sure you follow those.

"If you are a "contractor license" sate your brother in law could be subject to fines, penalties as well as prosecution if the "license board guys " were to drive by and stop. happens all the time!

There are some discussions about the technicalities of contract law and ownership with double closings, but hundreds of them happen every day so I wouldn't worry about it much.

If it doesn't, google for "landlord tenant law" with the name of your city, county, or state.

My mother in law bought it at the sheriff's auction and we bought it from her.

Also, I have no idea what the laws/regulations are in your state, so if there is a local rule preventing anything more than 6%, then ignore me.

However, you MUST understand the rules and laws associated with these types of deals.