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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] You've got time.... Posted by Ward-CA- on June 04, 2003 at 7:35 PM In Reply to: Closing in 48 hours posted by John -CA on June 04, 2003 at 10:46 AM : Ward, : Any suggestions on how to close a deal within 48 hours? Trustee sale going up this friday at 12pm. : I am really worried about how to move this people out of the house? How do I structure it so that people moving out is part of the deal to assume title, subject to existing loans. : There are no more liens, abstracts of judgements on the lot. : Thanks. =•=•=•=•=•=•=•=•=•=•= John, Well, you need to do all your regular paperwork and get the EPA signed now. That’s the EPA (equity purchase agmt.), the Notice of Cancellation, and the Net Equity Worksheet. The cooling off period is for 5 days, unless you have less than that much time before the sale. Then is gets shortened to 8:00 AM the day of the sale. Get with the owner tomorrow and have him call the lender and tell them he has the money necessary to reinstate. Ask to know the amount required in cashier’s check form and precisely how to pay it before at 10:00 AM Friday. Perhaps you can go into a local branch office of the Lender. If that won’t work ask if you can reinstate it 5 or 10 minutes before the sale with the auctioneer. If nothing works out then file an emergency petition in Chapter 13 at your local bankruptcy court at 10:00 AM—11:30 AM on Friday morning. To be prepared, go to the Court tomorrow and go to the Intake window and ask the clerk for an emergency petition in chapter 13 as if you were going to file it for yourself. Then you can have it on hand if you need to use it on Friday. Click on the link below to learn how to Complete An Equity Buyout in CA without the help of escrow. Hope this helps. Completing An Equity Buyout.. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : Any suggestions on how to close a deal within 48 hours? Trustee sale going up this friday at 12pm. : : I am really worried about how to move this people out of the house? How do I structure it so that people moving out is part of the deal to assume title, subject to existing loans. : : There are no more liens, abstracts of judgements on the lot. : : Thanks. : =•=•=•=•=•=•=•=•=•=•= : John, : Well, you need to do all your regular paperwork and get the EPA signed now. That’s the EPA (equity purchase agmt.), the Notice of Cancellation, and the Net Equity Worksheet. : The cooling off period is for 5 days, unless you have less than that much time before the sale. Then is gets shortened to 8:00 AM the day of the sale. : Get with the owner tomorrow and have him call the lender and tell them he has the money necessary to reinstate. Ask to know the amount required in cashier’s check form and precisely how to pay it before at 10:00 AM Friday. Perhaps you can go into a local branch office of the Lender. : If that won’t work ask if you can reinstate it 5 or 10 minutes before the sale with the auctioneer. : If nothing works out then file an emergency petition in Chapter 13 at your local bankruptcy court at 10:00 AM—11:30 AM on Friday morning. To be prepared, go to the Court tomorrow and go to the Intake window and ask the clerk for an emergency petition in chapter 13 as if you were going to file it for yourself. Then you can have it on hand if you need to use it on Friday. : Click on the link below to learn how to Complete An Equity Buyout in CA without the help of escrow. : Hope this helps. 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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