Help w/ LD Seller Financing Deal. - Posted by EmersonD

Real Estate Investing
1

Posted by Michael Morrongiello on February 11, 2001 at 21:27:10:

Emerson:
We purchase paper all over the country so we are dealing long distance all the time.

As for getting a realtor or someone else to assist you.
Negotiate a fee for their services. This is the way the real estate industry is heading these days anyway. By all means make sure that the paperwork is done correctly by a local Virginia Attorney or title company.

ALso document any funds you get down, and make sure to get some sort of a credit application from the prospective buyer.

If the urge attacks you to seek what you might be able to get if you decide to convert the owner financed trust deed into cash, feel free to call me.

To your success,
Michael Morrongiello

2

Help w/ LD Seller Financing Deal. - Posted by EmersonD

Posted by EmersonD on February 11, 2001 at 16:18:38:

Im a couple of days from going into contract with a seller financing deal in Virginia. The problem is, that I live in New York. I was thinking about hiring a local real estate agent to show the house to my potential buyers and to take care of my buyers paperwork.

First question: Would this work? Is anyone else here doing long distance deals?

Second question: What would be a fair/attractive commission to offer an agent to show and take care of the paperwork involved? Note: I don’t need them to put it in the MLS or to market it.

Thanks in advance,
Emerson