InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Defers paying all cash to a seller right now.. Posted by Ward-CA- on May 01, 2003 at 6:19 PM In Reply to: Re: carry back trust deed...... posted by SeanW on May 01, 2003 at 3:01 PM : This discussion of seller carryback trust deed is a new concept to me. I had thought the contract to pay the seller his portion of equity was an unrecorded private contract? Why encumber yourself? =•=•=•=•=•=•=•=•=•=•= Sean, Yes, the Equity Purchase Contract (EPA) is a private, non-recorded document. What we're talking about here is giving the seller a carry-back note and trust deed for the balance of what you owe them. It allows you to do a deal without coming up with ALL their cash upfront. For example, I like the idea of giving the seller just $5K cash upfront and the balance of $25K 4 months later rather than the whole $30K right now. Follow Ups: Risks of Carryback TD? SeanW 7:35 PM, 05/01/03 (3) No risks that I see. Ward-CA- 8:18 PM, 05/01/03 (2) (No Nerves) SeanW 9:43 PM, 05/01/03 (0) What about desperate sellers? SeanW 9:32 PM, 05/01/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : This discussion of seller carryback trust deed is a new concept to me. I had thought the contract to pay the seller his portion of equity was an unrecorded private contract? Why encumber yourself? : =•=•=•=•=•=•=•=•=•=•= : Sean, : Yes, the Equity Purchase Contract (EPA) is a private, non-recorded document. What we're talking about here is giving the seller a carry-back note and trust deed for the balance of what you owe them. It allows you to do a deal without coming up with ALL their cash upfront. : For example, I like the idea of giving the seller just $5K cash upfront and the balance of $25K 4 months later rather than the whole $30K right now. 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

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction.

Copyright © 1997-2003, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455