Posted by Nick on December 18, 1999 at 09:59:37:
This is not the only method for soothing the psyche of the seller, but you could offer to make an arrangement in which you offered to sign a “quit claim deed”, deeding the property back to him if for some reason you defaulted in your performance.
Of course, you would have to protect yourself from his whimsically deciding that he wanted it back, and you would have to be prepared to surrender the property if it came to that.
Both of you could be co-beneficiaries and you could both have the trustee that you mutually agree upon. Then you could give the trustee the agreement and the instructions necessary to perform as needed, if needed.
The simple way to do it is flip it for a profit.