Posted by A. Anderson on February 27, 1999 at 13:48:20:
I had the opportunity to find a townhouse FSBO from a somewhat motivated seller. The reason for me saying “somewhat motivated” is because they a motivated to sell but a very reluctant to allow me to assume their assumabale morgage which is 55k. they indicated that even if they did allow me to asume their morgage their names would still be attached to the original morgage. The property has been vacant since Setember l998. They had the property listed with a broker resently but I’ve noticed that the realtor’s sign is no longer there and the original FSBO has reappeared.Also please note that the owners what to move to Florida and the husband is very ill.
I have two questions for anyone who might have any suggestions:
l. If I assumed this assumable morgage, would the owners of said property still be liable if I d
defaulted on the morgage?
- Any suggestion on how I can ease their
thoughts on the idea of assuming the morgage?
What are your thoughts or your ideas as to how I can close this deal?