Can someone summarize how to do the deed transfer, the land trust and then closing for a short sale.
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I understand that I am to get the homeowner to sign over the deed to my company. Then I quitely assume the 1st mortgage (do you actually ake payments?)
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Then they also sign the land trust to ensure that I am not running away with the home, right?
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Then how do most of you close it if you yourself do not want to buy it?
I want to be able to negotiate the deal and find a buyer in the process. I do not want to make the mistake of the lender requiring that I go all the way back to begining to get the new approval with the new buyer.