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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (79150)	9/7/2011 12:35:30 AM
From: Hawkmoon	1 Recommendation Respond to of 218090

Totally agree that most creditors are honorable people/entities.. We are currently preparing to sell a house we purchased and remodeled. Had one lady who offered to buy it if we carried the paper until she could qualify for a regular home loan, at which point she would make a balloon payment in full. I'm VERY leery of doing this as I want the capital we've invested in the home returned so we can purchase another distressed property. Don't want to tie up the capital, or risk having the buyer screw us and require a legal eviction and foreclosure issue in order to get the property back on the market for sale. Any such sale would have to require the buyer to waive all rights to any legal foreclosure or eviction protections in the case of the loan falling 90 days past due (this being reasonable on our part). But I'm not sure if I can legally require a buyer to waive such rights. That means lawyers have to get involved in writing the sales contract. Just too much hassle.. Would rather just sell it outright and commence a new project. Hawk