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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Preforeclosure Home Posted by jkr on March 13, 2002 at 12:54 AM Property appraised at $210k. Owner owes $160k. Owner willing to sell to me and walk away...bankruptcy also in Illinois. Problem: I'm currently tapped...have 3 houses in rennovation stage and bulding a new spec house. Have until July before sale at auction on this property. Question: To limit upfront capital needed, Any way to buy this house via an option contract of some sort, try and sell this house before the end of the option period: if can sell, get a quick claim deed or something to secure ownership before closing and tittle work: if not, let the property go to foreclosure and only be out the option cost...say $500 or so? Is this possible at all? Thoughts on this Ward? I'm new to the creative financing game. Follow Ups: Assignment of purchase agreement... Ward-CA- 7:19 AM, 03/14/02 (1) Re: Assignment of purchase agreement... Steve 2:39 PM, 06/27/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Property appraised at $210k. Owner owes $160k. Owner willing to sell to me and walk away...bankruptcy also in Illinois. Problem: I'm currently tapped...have 3 houses in rennovation stage and bulding a new spec house. Have until July before sale at auction on this property. Question: To limit upfront capital needed, Any way to buy this house via an option contract of some sort, try and sell this house before the end of the option period: if can sell, get a quick claim deed or something to secure ownership before closing and tittle work: if not, let the property go to foreclosure and only be out the option cost...say $500 or so? Is this possible at all? : Thoughts on this Ward? I'm new to the creative financing game. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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