2007-08-21 02:50:07 · 3 answers · asked by GWEN C 2 in Business & Finance ➔ Renting & Real Estate
You are basically selling it at a very large loss. It is a way someone can confuse you with a lot of numbers and make you believe things are better than they are. If for example they say they are buying at 80% of value, I bet you could easily sell it to someone else for very close to 100% of that same value.
You are better off just selling even at a large loss. I can not imagine this ever being the best alternative.
2007-08-21 03:03:17 · answer #1 · answered by glenn 7 · 0⤊ 0⤋
Scheme is probably the right word. Is this one of those deals where you sign over your house to some guy and he rents it out to a third party? Or some similar deal?
Basically you are giving your house to someone for free. They take the rent and you get stuck with unpaid mortgage payments.
2007-08-21 09:58:23 · answer #2 · answered by bdancer222 7 · 0⤊ 0⤋
THEY are disasterous and should be made only as the last resort and with a LAWYER who looks over all the documentation.
Again BEWARE and you need a Lawyer to decipher these contracts.
2007-08-21 09:54:43 · answer #3 · answered by Anonymous · 0⤊ 0⤋