Posted by Michael Morrongiello on January 25, 2000 at 23:36:11:
Paul:
YES it possible for you to execute a note in favor of the sellers (whether its your grandmother, or the other sellers) and if the down payment, your credit, note terms, etc are structured correctly that paper that you are asking the sellers to hold can be converted into immediate cash.
If you have some additional input on what you are trying to accomplish please feel free to contact me.
FelixM1@aol.com
Michael Morrongiello
creating a note to buy a house - Posted by Paul Shroyer
Posted by Paul Shroyer on January 25, 2000 at 12:42:49:
I have two situations.
1)I like to create a note for what ever amount to buy my grandmother’s house for $6,000.She will use the money to pay future funeral bill.So when she dies (not in the nere furture I hope) everything will be paid for her funeral.
2)I also to create a note to buy this one house with 2 large barns and 2 acres for $62,000.The owner will not owner finance.Is it possible to create a note of 70,000 and sell it to pay for the property.