What did the agreement say?
Were you to be the one to make that payment, and who was to notify the bank to stop the electronic withdrawl from his account?
Frankly, as long as you can afford the cash to pay him, I’d do it.
Better to keep the seller happy than to have him get squirly and contact the lender for some reason.
Before giving him the full amount, I’d talk to him though and see if he’ll take less.
You never know til ya ask.
I took a property sub. to in December of '01. When i took it, it was 2 payments behind + a huge tax lien. The owner had an automatic draft account for his mortgage and the bank automatically drafted the monthly payment for january. Thats all good for me, less to pay.
Now, 4 months later, the owner calls me saying that he needs that extra monthly payment paid to him because now he can’t pay his other bills.
should i say, “too bad” or go ahead and pay him to not cause any problems?