The person in direct contract and with a pre-existing formal agreement to help the seller move the product.Buyer's mandate would be the opposite.Some use the term when they want to say they are direct to a principal.

There are Non-Judicial and Judicial Sales.

As an agent, by law or by market practice, you can be required to put a formal indication in all of your advertising that you are an agent.

Is there a formal contract format or will any general real estate contract legal in the area suffice?

Well… it depends on what state you are in, and what type of foreclosure it is... i.e. judicial or non- judicial foreclosure.In some instances after the lender forecloses, they can still come back after them for a deficiency judgment and try to collect the amounts that they lost.

I also look forward to learning more form all of you!

Now to the topic of how to evict them: They have 5 judicial days, after the first eviction paper filed, to come up with rent or I can go in with a sheriff and remove them.

If you are looking to formalize the group and build it into something substantial, just be prepared for a huge time commitment.Good luck.

If the property is listed the listing agent should care about disclosure once they have been formally notified that there is a pre-existing defect that has been glossed over.

RE investing is a field that people can get into without ever doing any formal training.