Using land trust in a SS!
Let’s say I started a SS with home and put it into land trust and homeowner (seller) is just 1 month behind. In Washington it’s about 9-10 months from the time you miss your first payment till trustee sale. Ok, so the trust has property on MLS and no offers and I’m finishing up negotiations with SS lender. At this point the bank wants more than I’m willing to pay and they want to give it more time on the market for another offer.
How would it work if it was left on the market and 3 months later I got an offer. Without turning that offer over to the SS bank (because it’s my end buyer I want to sell to). How do I start negotiations over now that I can offer more knowing what it will sell for to my end buyer??? If the answer is just start it over. Won’t the bank SS ask why I’m offering more 3 months later and assume I have it sold for more at this point??
P.S Anyone using Claude’s land trust from Financial Health Coach?? If so would you be willing to send me the paperwork to set the trust up?