Posted by John Merchant on September 29, 2009 at 23:53:01:
The IF would be whether escrow would accept this language so I’d check that before proceeding.
In many states this would be a local lawyer who does lots of pvt escrows for clients’ closings and having that escrow lawyer on your side won’t hurt your getting along with the bank either.
This is the kind of thing that long ago drove me to the pvt escrow co and away from the big, nationals that strive to walk the co line and ignore what’s really best for their customers.
Adding a buyer to an existing contract - Posted by Keith
Posted by Keith on September 24, 2009 at 10:20:18:
I have a property under contract in Cleveland, Ohio. I would like to add my end buyer to the contract so they can bring their financing at closing. Is this possible?
Posted by John Merchant on September 24, 2009 at 20:48:27:
The way most experienced REIs handle this is to say, in the contract, “Keith Smith and/or Assigns” and I’d see if seller would agree to amendment of the contract to say that.
Why should seller care as long as he’s getting cashed out?
You didn’t say it was an REO. You can still play the game, just write Keith, et al. as buyer and vesting to be determined in escrow. Avoid the assign word.