Selling Sub-2 Property - Sub 2 And Getting Partial Payment In 60 Days
I am selling a condo that I bought subject to. To another investor who is going to buy it sub-2 from me. I am getting 15K cash now - and another 5K when the investor retails the property within 60 days.
As far as the 5K, should I create a lien on the property for it? There is already a first and second.
How can I have security I will receive that money?
As far as the 5K, should I create a lien on the property for it? There is already a first and second.
How can I have security I will receive that money?
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Create a lien on the property.