This route requires the seller to procure capital sources other than the equity the seller has in their property.

If your agent showed you the property and/or submitted an offer for you he already has procuring cause and will be entitled to his share of the commission regardless of what happens next. 

.`(9) DOCUMENTATION AND VERIFICATION OF INCOME- In complying with the FHA underwriting requirements under the HOPE for Homeowners Program under this section, the mortgagee under the mortgage shall document and verify the income of the mortgagor by procuring an Internal Revenue Service transcript of the income tax returns of the mortgagor for the 2 most recent years for which the filing deadline for such years has passed and by any other method, in accordance with procedures and standards that the Board or the Secretary shall establish.`(10) MORTGAGE FRAUD- The mortgagor shall not have been convicted under any provision of Federal or State law for fraud, including mortgage fraud.`(11) PRIMARY RESIDENCE- The mortgagor shall provide documentation satisfactory in the determination of the Secretary to prove that the residence covered by the mortgage to be insured under this section is occupied by the mortgagor as the primary residence of the mortgagor, and that such residence is the only residence in which the mortgagor has any present ownership interest.

Yes, basically they're: subject to inspection and if the buyer can procure funding.3.

You may find yourself in the middle of a commission dispute as a result of what referred to in the industry as "procuring cause."

The trick is finding these folks that are willing to trade equity for peace of mind and to procure deals with REAL positive cash flow.

We have a call center that contacts these land owners and procures lots at below market prices, then releases them to our investors.

(viii) aids or offers or attempts to aid in locating or obtaining real estate for purchase or lease;(ix) procures or assists in procuring a prospect to effect the sale, exchange, or lease of real estate; or(x) procures or assists in procuring property to effect the sale, exchange, or lease of real estate . . ."

All with 55-70% LTV with little or no work needed, range from $500,000 - $3MM.Please call me [number removed - please read forum rules] if you are serious about procuring the properties you mentioned and can close fast and on time.

Paying their overhead AND letting them further dip into my commissions they really had no part in procuring has finally got to me.I have a desire to go on my own and start a small scale brokerage specializing in limited service (flat fee listings).