Posted by LeonNC on November 27, 1999 at 21:24:20:
In deciding which CYA letter to use with the seller of a home when taking subject to, I’ve stumbled onto something that might be slightly IMPORTANT! Am I guaranteeing to make the sellers payments? I’m trying to make the form read to the tune of “payments will be paid on a monthly basis, if and only if, purchaser is able to resell the property.”
Being able to guarantee the payments will be made is a nice position to be in but at this point I’m hesitating to put myself in that postition.
If I want to lease option the property is there any problem with using the word “resell” as stated above?
I may get more than I ask for with this post but that’s fine because I’m here to learn so fire away. Thanks!
LeonNC