Those six traditional forms of covenants can be broken ...http://encarta.msn.com/dictionary_561503550/deed_of_covenant.html deed of cov·e·nantnoun Definition: U.K. signed agreement: a signed document by which somebody formally agrees to make payments for a period of several years to a person in specific circumstances or especially, formerly, to a charity.

Many times (probably 70% in my experience) doing a formal inspection on a wholesale deal is not possible or at least feasible.

Other investors can bid up properties just to make sure you don't come back...they can turn great deals into money losers just to insure their interest as the only ones who get the good deals at auctions.A redemption period gives the previous homeowner a chance to redeem the property after they have been foreclosed...there are typically redemption periods with IRS seizures...judicial foreclosures...and, as the new owner, you do not have posessory right during the redemption period...but this is where it gets a little complicated...the tax stuff is extremely complicated and confusing..most investors won't concentrate too much on it...which some might argue leaves it open for some money to be made if you have the right resources and know the ins/outs of all the rules and laws.

California Foreclosure ProcedureJudicial Foreclosure Available: Yes Non-judicial Foreclosure Available: Yes Non-judicial Sale Typically, a title insurance company is named as the trustee to arrange the sale of the real estate.

Only recently, formally good markets, Austin, Charlotte have started dropping in price.

For your problem foreclosures can be done in judicial and non-judicial processes; that is, lenders can foreclose in or out of court.

Yeah, I plan on asking him all of these things, He made the "formal" offer last week and then today I found out he was in the hospital, So I just wanted to get an idea of what is involved.We had planned on making a business plan and arraignment on Monday.

...Deed of Trust (sometimes just referred to as DOT) vs Mortgage; non-judicial foreclosure vs judicial foreclosure, respectively.

A LLC is a formal business that is formed under state law.

That along with figuring in a couple different factors normally gives me a fairly good general estimate of ARV.To be more accurate, you should pull 3-5 individual comparable houses (roughly the same square footage, bed/baths, amenities, etc.) that have sold in the last 3 months (sometimes 6 months depending on your market) and figure an average sold price per square foot and then multiply that by your house's square footage.Curt, on a side note, do you find a formal appraisal to be an accurate estimate of what it will realistically sell for?