Posted by JohnBoy on June 19, 2000 at 17:02:08:
Get the buyer you have under contract to buy from you. Get a large deposit up front and set a closing date. When you go to closing title will transfer from your relatives to you and then on to your buyer. The money from your buyer will cover the amount you need to pay leaving you with a check for the difference.
I would be sure to get a decent deposit from your buyer as “Non-refundable” subject to being able to deliver clear title. If he’s for real with wanting to buy the house he shouldn’t have a problem with it. Otherwise if he does have a problem chances are he’s just trying to tie the property up to flip to someone also.