Posted by JohnBoy on February 04, 2001 at 24:01:47:
Get everything signed off NOW and just make the purchase agreement “subject to running a title check that is satisfactory to buyer”. Then check title.
You say they need to move because they are overextended. Find out WHEN they can move! Find out what they CAN afford! Then get out and FIND another property that they can afford and put them into it! TWO deals in one! While you’re looking for someone to place into their property, look for one the seller can afford and let them move into that one if they haven’t found something by then.
At the least find out what they can afford and help them find something they can get into just to get them out of this property even if you can’t make something off it. Just HELP them get moved out if you have to! With a little luck you might find a deal you can pick up and lease it to these sellers creating some more cash flow! Find out what they can afford!