who knows "non-performing note" and "double closing"?

Come back for follow-up

One agent called me to buy the neighbor unit which got burned and storm demaged, and belongs to the bank. She says the neighbor unit  is a non-performing note. If I buy it, she will do double closing , with me and bank.

Is there anyone who has this kind of experience ? what do "non-performing note" and "double closing" mean?

I offered 15K, she prepared a contract in which she would like to get a commission of 5k. Is this reasonable?

所有跟帖： 

• 他自己为什么不买？ -柠檬椰子汁- ♂ (0 bytes) () 02/18/2017 postreply 20:47:32

• Buying note is the same as purchasing the loan the bank issued t -pssci- ♂ (0 bytes) () 02/18/2017 postreply 21:16:27

• to the people who bought the property. You have to foreclose on -pssci- ♂ (0 bytes) () 02/18/2017 postreply 21:18:27

• 谢谢大家！主要隔壁状态逐渐变坏、若不买下，我的unit -youzifive- ♀ (402 bytes) () 02/18/2017 postreply 21:52:01

• 买了note后，你还得foreclose on the property. -pssci- ♂ (0 bytes) () 02/18/2017 postreply 21:20:29

• 说明银行，并没有完全拥有那个地产 -pssci- ♂ (0 bytes) () 02/18/2017 postreply 21:22:36

• Make sure this note is the primary lien. If it isn't , you have -Wendy666- ♀ (0 bytes) () 02/19/2017 postreply 05:17:46

• you will need to do a title search first -greenfieldcn- ♂ (229 bytes) () 02/19/2017 postreply 13:15:45

• 对于这种property，很多时候是double closing, 我就是刚买了个double closing,具体操作，也不太 -goldilock- ♀ (503 bytes) () 02/19/2017 postreply 13:48:27

• 那你的底价是多少？$20,000是commission 吗？还是 -youzifive- ♀ (32 bytes) () 03/02/2017 postreply 06:35:38