New here: I would like to know what paperwork has to be in place to take over foreclosure. Case , pay up back payments, then do you get a prosimary note from owner, which should interest or do a lease buy from owner if acceptable. Also if any more advise on this type tansaction.
So, to structure this purchase, you would help the seller avoid foreclosure by agreeing to purchase the property for a certain amount, go to the mortgage company and catch up the note, then proceed with the purchase contract. I would think they need to be out of the house before putting any money into the project to avoid eviction. Why would seller want to leave the house without the completion of the deal?