First, Juan, I am a newbie who’s not done his first deal yet. Hard to tell if I have analysis paralysis or am doing my due diligence.
Presumably, I would certainly try for a short sale if one is a possibility. I have zero experience, so I guess I’ll have to get my scars in the real world.
Al for where I “learned my techniques”, I read the Sheets thing twice, joined three investors’ clubs, read six library books from the “gurus” and check the best source: Creonline. People here don’t tend to be coy and withhold answers like I encounter at the clubs, I don’t get put down for my ignorant questions, it’s a good experience thanks to people like you.
You’re in the home of a pre-foreclosure and have arrived at a mutually beneficial agreement. Number 1. You have the seller sign an “authorization and release” form, right? Number 2. You both sign a sales contract, also right? Question: Should it be notarized?
I keep hearing that you get the seller to deed the property to you. What is the form used for that - a “warranty deed” or an “agreement for deed” or what (and what is the difference?) And lastly, do you drag the seller to a notary to execute these documents?
It sounds like you have everything correct.
As for notarization, the only thing you need notarized is the warranty deed, and yes do get them to an attorney or title comapny or a notary’s office. The more official it looks to your seller the less challenges you will have. DO NOT RECORD THE DEED until you have a clear title.
Am I safe to assume that you are working on a short sale?