Posted by David Alexander on March 15, 2004 at 18:20:51:
I'm going to buy a note (actually notes) before it's inception....
For my own portfolio....
In other words... I'm buying it... and putting the funding in place... Not flipping it for a simultaneous close or anything...
The seller is selling there house... with Owner Financing.... per my instructions.... influence...
How do I structure a contract/option to buy on a note that doesnt exist...
I don't see them going around me to sell to someone else... Although, that could always be the case... It's more.... getting them to go through with the deal....
I would want a contract that if they instead sold the house say for cash or deeded it elsewhere... the obligation was still there on title for me to be able to buy the financing on the house even if it sold in the future....
Do, I just get title and hold it in escrow... to protect myself....
Am I off my rocker.... ?? :)
David Alexander