Re: what is the best way to handle this… - Posted by B.L.Renfrow
Posted by B.L.Renfrow on February 28, 2001 at 20:30:49:
See whether the seller has anything to contribute toward the arrears. Many times they have part of the money, just not the entire amount, which the lender requires to reinstate. But if they have, say, $4000 that would make me interested. If you take title subject-to the existing first and sell on a land contract, you should be able to get somewhere between $10-$15k down from a buyer. If you get a $4k contribution from the seller, that might be worthwhile, if you could sell quickly, without incurring significant holding costs.