I plan to find an end buyer and have the seller buy me out of an option contract that I have with him. Before we break contract, however, we will both sign a promissory note stating that he will pay me the difference in the option price I had with him and the option price agreed with the end buyer that I found; I will get paid from the title company.
Can someone please explain the process of doing this? Does anyone know/have a promissory note template? Which contracts should be used?
Sorry I know this isn’t your typical wholesale…any help is appreciated.