Posted by Bill K. (AZ) on March 28, 2000 at 20:28:55:
Zulema,
Generally speaking, it doesn’t matter who writes the contract as long as both parties agree to the terms stated. If you’ve come to an understanding on the terms, someone needs to write it up, and both parties need to sign the agreement.
I hope this helps.
Bill K. (AZ)
wraparound mortgage - Posted by Zulema
Posted by Zulema on March 28, 2000 at 17:32:00:
Hello, forgive me for my ignorance but everyone has to start somewhere. Example- There’s a buyer and a seller and a property. The seller is carrying an existing mortgage and agrees to a wraparound mortgage. Who initiates this? (buyer or seller) Buyer wants a no money down deal and has absolutely no cash to put down. If both parties agree to a wraparound / What is the next step? Thank You, Zulema