There can also be language issues if the seller speaks a different language or is not a native to the US.

So it's kosher to put some language in the contract regarding cashing the check = assigning the lien?

My mtg will remain in place.The contract for deed sale varies from state to state so make sure you have correct language in your CFD contract.I like it b/c I am getting nice chunk of change upfront and will be making interest over life of loan as well.

Both Seller and Buyer agree to create and sign a traditional purchase contract and a traditional deed, such as a "Warranty Deed", as a "back-up", just in case a more traditional sale is needed".See if an attorney will help you "draft the language needed" and assist you in executing these "back-up" documents, and maybe "store them away for you both", just in case they are needed in the future?

Their prices are absurdly low and the techniques they use work… Luckily most visitors will quickly leave the site to find a company that speaks the traditional English language.

No complicated language or values, just very straight forward and maybe add some lines of security in there.

This is why its important to have your taxes structured in unison with a mortgage professional who is proficient at understanding the language which accountants speak.

I've made offers on several short sales in the past but never actually bought one.I've been told to put language in the contract to the effect of "property will be delivered vacant and all of owner/occupants' or tenants belonging will be removed before closing date".What about the final walkthrough?

You have to make sure there are NO other liens or encumbrances on the property as that will hold things up and pinch your bottom line.If you are dealing with bigger lenders, like BOA, Wells, GMAC .. many of them have language in their approvals that will prevent a direct flip or back to back closing so you are likely going to have to hold title for some time before you sell to an end buyer.

And we had no recourse (appraisal contingency states buyer may retain EMD).Here is the language:"Buyer's obligation to complete this sale is contingent upon an appraisal of the Premises acceptable to lender for at least the purchase price.