Hello. I’m a newbie and back in November I negotiated a seller to do 100% financing on a house and 3 mobile homes with 5% down. Well, it turns out the properties are all causing me a great deal of grief and headache. Not just with maintenance, but there are some SERIOUS issues with the place. I won’t get into it but I didn’t do my proper due diligence and now I desperately want out. Is it possible for me to just give the properties back to the owner who is holding the paper? I know this sounds horrible, but is it? Thanks. :help
Possible, yes. The seller does not have to agree.
If the seller doesn’t agree, you can stop paying and force a foreclosure. That is a bad situation for you I only recommend if you cannot afford the payment anymore.
Can you sell to another investor?