Buy A Foreclosure At Auction And Assign Contract?
Hello:
Is it possible to buy a property from the Court House steps and then flip the contract??? I live in New York, does anyone know of any rules against this..The rules that I know about are 10% down and must close within 30 days...So if I bid and win and put my 10% down, could I then flip it to a rehabber or another investor for a fee?? Any help would be much appreciated...
Sincerely,
Bill Morin
Nevermind ... I wrote my own letter and it will be in the mail tomorrow. Thanks anyway.
Let us know how it turns out!
a letter to the owner is good, a letter of intent to save time would work too
Can you tell me what a letter of intent is? TIA
A letter of intent in real estate is basically a letter acknowledging that one is ready, willing and able to enter into a contract. Whether it is enforceable or not is questionable, however many seem to agree that it is not enforceable and that it is just a letter or document stating a serious intent to do or not do something.
I am in Western Pa (north hills). Give me a call on my cell. 724-316-4762 my name is Joe.
Have a great deal of interest& knowledge of area, am near by in Central Pa with easy access as far as Pittsburgh. Love to hear from you.
Rather than shotgunning the forums, please make use of our Members area. You can conduct a search there.