hi Melida. i currently own a 2 family in the bronx and also bought i using an FHA loan. i purchased a home that was being sold FSBO. he agreed to drop the price 15k off the bat since he was saving the agents comission. i just used an attorney provided by my employers pre paid legal benefit. no agents were used. i am biased but i think the Fordham/Jerome area is a great area to invest.

Talk to an attorney.

@Ernesto Hernandez  If you are not very experienced I would suggest getting a good attorney to handle the title work.

He wanted cash payment, but I said that I wanted proof that I paid him and that we had come to an agreement (to cover myself).He then called back saying he was going to talk to his attorney, because he felt he didn’t misrepresent his product and basically he wanted everything in cash and now I wanted “all this paperwork” (a receipt).

He wanted cash payment, but I said that I wanted proof that I paid him and that we had come to an agreement (to cover myself).He then called back saying he was going to talk to his attorney, because he felt he didn’t misrepresent his product and basically he wanted everything in cash and now I wanted “all this paperwork” (a receipt).

*This post does not create an attorney-client or a CPA-client relationship. 

Seeing that this is my first flip I have no clue how to go about dealing with this situation, I currently have my attorney looking into the property but I’m not sure if I would have any issues in the future with trying to sell the property.

Posting and publishing companies do the official notices and these are hired out by the trustee or attorneys handling the foreclosure.Cash for keys are typically handled by the real estate agents hired by the asset management companies for the bank.

For advice on specific sets of facts, seek attorney consultation. 

This is not legal advice and does not create an attorney client relationship.