Posted by JohnBoy on February 04, 2001 at 02:52:28:
They will need to be dated the day you do the deal since they need notarized.
Have a clause added that states the sellers shall pay X amount in RENT per month on a month to month basis to you if they don’t vacate by Feb 28th, 2001. This gives them the motivation to get out in time to avoid additional expenses and protects you in the event they don’t get out by the deadline. At least you collect rent from them to cover your expenses.
Dating the Docs - Posted by Jim
Posted by Jim on February 04, 2001 at 02:39:22:
Getting a “Subject To” deal signed up today!
Seller can’t move til 2/28/2001
How will I date all of the documents? (Todays’ date or March 1, 2001) and does that give me till April 1, 2001 to close if that is what I indicate on my agreement? If so then when do I date the Warranty Deed to Trustee and the rest of these docs???. Can I market the house in order for me to find my buyer now, or do I have to wait till March 1, 2001
Cheese N Rice this has me all confused!!!
Please clear this clouded mind. (If you can)
Thanks
Jim
Re: Every Nurse’s Dream… (nt) - Posted by GottaLaugh
Posted by GottaLaugh on February 04, 2001 at 17:31:13:
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the longer you wait . . . - Posted by California David
Posted by California David on February 04, 2001 at 09:55:44:
the more that can go wrong. If you’re buying at a discount (if not, than why are you doing it?), sellers remorse is the most likley problem.
close the deal and keep them as renters, make them pay rent. raise the purchase price by one months rent if the numbers work. hold back a second payable in a couple months (split funding), if the numbers work.
i would’nt wait if it’s a real deal.