Purchase Contract Or Equity Purchase Agreement?
Hi, we are new to buying forecloser/investment property. We were advised to do a Equity Purchase Agreement rather than a purchase contract. Is there a reason investors use the E.P.A rather than a purchase contract? If anyone has experience with this, any advice would be greatly appreciated. Thanks :-)
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Greetings dburton,
Greetings lisamburd,
You may want to take a look at this link…
http://www.leginfo.ca.gov/cgi-bin/waisgate?WAISdocID=42588123965+0+0+0&WAISaction=retrieveIt’s the CA Civil Code Section 1695, which is good to get familiar with in detail. It deals specifically with purchasing from people in foreclosure.
HTH [ Edited by mcole on Date 02/03/2005 ]
That last link may not work. Try this one...
http://www.leginfo.ca.gov/cgi-bin/waisgate?WAISdocID=42588123965+0+0+0&WAISaction=retrieve
I have been buying foreclosures in CA for years and I use the the First Tuesday EPA as well.