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Re: 5 days clause, if auction is less than 5 days

Posted by michaela-CA on July 17, 2010 at 9:44 AM

In Reply to: Re: 5 days clause, if auction is less than 5 days posted by Ellis on July 17, 2010 at 9:41 AM

So, is this forum only for people that have been to Ward's courses?
I don't want to be rude, but it doesn't help me to say that that's
in Ward's training.

If I have an awesome deal that can net me several hundred K, and
I have the cash to cure, then why shouldn't I? I would think
that makes it a lot cleaner transaction, then trying to do a sub 2.

: I wouldn't cure anyones mortgage unless I could delay the sale. Ward goes over this in his training. Then proceed accordingly in compliance with CC 1695

: Ellis

:
: : I'm wondering what to do, if you come across a really hot pre-foreclosure and the seller is willing to let it go for a steal.
: : BUT, the auction is less than 5 business days, and the contract gives him/her 5 business days to back out.

: : How do you avoid the possibility that the seller let's you pay off the mortgage and then changes his mind the day after?



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