Am I reading this right?? If I buy a Foreclosure home and want to sell it in less than 18 months I have to give 82% of my profit to the previous owners?
It seems to me they are almost forcing you to have to rent out a foreclosure in MD:
"A Foreclosure Purchaser is a person who has acquired a property as the result of a foreclosure reconveyance agreement with a homeowner. (See Md. Code Annotated, Real Property Article, § 7-301(E).)
If a Foreclosure Purchaser sells the property to a person other than the homeowner within 18 months after entering into the foreclosure reconveyance agreement, the Foreclosure Purchaser must provide the homeowner with cash payments or consideration of at least 82% of the net proceeds from any resale of the property. (See Md. Code Annotated, Real Property Article, § 7-311(B)(2)(II).) The Foreclosure Purchaser also must make a detailed accounting of this payment to the homeowner on this form. (See Md. Code Annotated, Real Property Article, § 7-311(D).) The following are instructions regarding filling out various items on the Homeowner Payment Accounting Form."