It is also possible that I completely misunderstand your endeavor.

Maybe I am misunderstanding what the loan constant refers to.The property being sold is actually in a foreign country without inheritance taxes, and where the realtors charge very little on the transaction compared to the USA.

Just trying to make sure I and others don't misunderstand your comment.

Am i misunderstanding this concept or does my theory hold true in California?

There’s a lot of upfront planning but it will save tons of time when dealing with the contractor and can help avoid misunderstandings.

If there are any misunderstandings along the way, you could permanently damage your relationships.

It's important to do this to avoid misunderstandings and to protect both you and the person lending you the money.One way to determine the terms of a private money loan is to look at the terms of a similar loan from a traditional lender.

I would guess that the overwhelming reason you lost several bids is because your bids were not the highest.But if you are asking for closing costs and it is not common in your area to ask for closing costs or most other buyers are not asking for them, then it is possible the seller could misunderstand your offer and accept a lower one.

Insurance also doesn’t protect you from misunderstandings, especially those made in writing and email.

Not sure if there’s something I’m misunderstanding, but if you have the equity for a refi then you have the equity for a HELOC as they are both based on appraised value.