I have a homeowner who is going through foreclosure and is willing to let someone take over the payment. to save himself from foreclosure. He has lived there for a year and is behind three months. Do I get the seller to sign a one page purchase contract for the amount owed or how should I get control of the property so I can wholesale it to an investor?
Your contract should have a subject to section, at least mine does. Once they sign it you have an interest in the property and can legally advertise it to sell.
What are the numbers? If it’s a good enough deal, buy it subject to then sell on owner financing and sell the note to a note buyer. Get a good down payment of course…