Posted by Susan (N.Ca.) on January 29, 2000 at 23:18:51:
Thanks for the info. I really appreciate the time you and other investors take to help each other on this board. I suppose I’m just having a hard time accepting that someone (a seller) would be willing to do something that appears to be so risky on their part. I myself would want my name/reputation totally disassociated with the property after a sale.
How would you handle such a transaction? I’ve only dealt with conventional purchases where the transaction is processed through a title company with fees averaging 3%. Since there would be no loan payoff/new loan would I still close with the title company?
As I previously stated, I’ve got the Sheets CD’s, and they do a great job introducing these concepts, but do you know of a better, or more detailed course pinpointed at these types of transactions. ie. How to sell a loan takeover to a seller as well as how to follow through with the sale. I believe, as you stated, my lack of a “real job” has now put me in a position of relearning all that I thought I knew about real estate.