I am a Newbie here. but glad I found this site. I have found a foreclosure that is about 14 days from being sold at auction. The owner just wants to be done with the whole ordeal,she is just waiting for the house to be sold. She owes $301K, she is behind $18,000 and the home is worth about $375K. I would like to purchase for myself but don’t know what would be the best way to structure the deal and I obliviously need to move fast. Also I don’t have $18,000 catch her up. Just would like to know if there is any way I can get this done. I have heard of sellers signing over the deed but I don’t know if that is best way to go. because I still would need to come up with $18,000. Any advice would be appreciated. Thanks
Ya got an LLC by chance? you need a good business line of un-secured credit for this gig if you have not cash on hand.
Or, If you really want it you could enter the owner into a forbearance agreement with the lender, this will take it out of foreclsoure and you take the deed and then take over the payments.
Be creative !