The attorney would be able to explain what the documents mean.If your REO is typical, the papers will include a statement saying if you delay the closing, you will have to pay $100 for every day its delayed.

Hi all, I'm looking at a Subject To deal at the moment in TX and one question I have is whether or not you typically need to change the home insurance policy when the property is subsequently occupied by someone who has a rental agreement and lease option.

A typical 30K house can often be closed with less than 5K out of pocket(down payment and closing costs).

Obviously, if it is on the Market, contact the sales rep/agent.I hope this begins to help you get a better picture of how you may want to approach the Westchester Market, but do not give up---however, make sure your asking price is within the typical price range of properties bought and sold in Westchester County.

My typical wholesale deal is between 30 and 40k with a rehab between 4 and 8k and an ARV of 60 - 70k.

Ten years ago I was flipping tax liens which was not your typical deal and was making a lot of money at it.

I also have a good deal of experience in loan closings, most of which have typically occured in the borrower(s) home.

The whole transaction is handled by a title company, and they do the recording.There's typically also a promissory note and that is not recorded.

They're usually only for a short time period, typically six months.

Typically, to cashflow a property well, your loan to value ratio can't exceed 80%.Since you are looking for answers and maybe someone guidence, I would suggest checking out hud.gov to see what the fair market rents are for section 8 housing.