Posted by DavePA on February 06, 2002 at 18:05:10:
I would try to sign this up on a lease/purchase with the option to buy. Only sign for the mortgage balance at time of closing. Then if you want you can sub-lease it out to a new owner for say 90-98K You always get a higher price when you sell on a rent to own or L/O. I would make sure that they are current on ALL payments. But, if you know how to do subject-to and go for the deed, that will work as well. You will OWN the property instead of having an option to buy it. Good Luck, dave
Hi everyone,
I have a couple of questions. I have a don’t wanter who can’t afford to make payments on his house anymore. He owes 60k on his house and comps would suggest a price in the low to mid 80’s. In this case, would most of you suggest a short-sale or a subject-to? I don’t have any money and I would really like to flip this to another investor. Thanks in advance for any suggestions.