What basic contracts should i use for a forclosure,
Any contingencies that i should throw in there to CYA?
Im from CA so theres alot of grey areas and loop holes.
thanks,
george-
If the property has already been foreclosed on and the lender has taken it back, the lender usually will require you to use their contracts.
If you are talking about pre-foreclosure. You need a letter of authorization from the owner so you can talk to the lender. Then you would use a standard contract for your offer.
You need the documents that reiauction mentioned. You need a good team of professionals around you. You need to know the in’s and outs of each technique you plan to use on buying the property so you can disclose everything. Then you just need to be upfront, honest, and disclose everything. Make sure you have everything in writing.
You could always have a 3-5 day inspection contingency in your contract to give you time to do your homework.
FORECLOSED = LENDERS CONTRACTS/SHORT SALE PACKET IF REQ. SS
PRE-FORECLSURE = BORROWERS AUTH. PURCHASE CONTRACT
got that part. right?
A good team would consist of:
Investor, Real Estate Agent, L.O, …
okay last one. Does the home inpection come before the acceptance or after the acceptance.
thanks ALOT.
george-