Why don’t you post this question up over at ANN’s Forum??? Or call their customer service dept.??? Better still, just read it carefully - it’s as clear as it can be???
Hi, I am collecting a list of notes…
Now I dont have the money to buy them, so I am thinking of flipping them. This is my first time doing this and i need help…
When I find a person that wants to buy a note. do i sent the Commitment Letter blank? or do I fill some of this before sending it?
this is the one that i have from the cash flow program,
please help…in their name goes my name right the seller and in your name goes the buyer, now do i fill my name or he does it. The county would me his or mine.
THIS COMMITMENT TO PURCHASE, is made _______________ by and between you, ( their name ), the
undersigned (Seller), and ( your name ), (Purchaser), and/or its successors and assigns, whose address is
your address.
This commitment is made in ( your county ), subject to and contingent upon ( your name ), and/or its
investor?s inspection and approval of the property and all documents including, but not limited to, credit,
appraisal and title work.
Seller agrees to sell and convey to Purchaser, and Purchaser agrees to buy, upon the terms and conditions set
herein, that certain ( Trust deed / Mortgage / Land Contract - the name of the instrument ) , wherein the
Payor owes a current principal balance of ( $balance amount ) as of this month, carrying interest on the
principal balance at the rate of ( interest rate % ) per annum, and requiring a monthly principal and interest
payment of ( payment amount ).
The agreed purchase price is the sum of ( $purchase price ) provided there are no underlying problems. If
the contract has to be renegotiated a verbal commitment from the Seller will be binding.
The subject property is located in ( county ) and is legally described as follows;
Property Address
ADDITIONAL LEGAL DESCRIPTION TO BE PROVIDED AND VERIFIED BEFORE CLOSING
Seller warrants that:
There are no prior liens or encumbrances on the property subject to the Instrument except as stated below:
SUBJECT TO: NO OTHER LIENS OR ENCUMBRANCES
It has full power, authority and legal right to execute, deliver, and perform, its obligation under this letter;
This Letter and the Instrument are legally valid and binding, and enforceable in accordance with their terms,
and there are no claims or defenses, personal or otherwise, or offsets whatsoever to the enforceability or validity
of the Instrument;
There are no lawsuits or legal proceedings pending, or to the best of Seller?s knowledge, threaten regarding
encumbrances on, or the ownership, use or possession of, the property or the Instrument;
No brokerage or other commission is due and unpaid in connection with the Instrument; and,