The listing site gives me a value price of $80,000-$150,000, which to me is a gold mine..

A good one can be worth their weight in gold, and a bad one makes every bump in the road a huge hassle.

Several developers saw the gold mine of the college and have drastically overbuilt the rental property there.

never heard of that ever happening. texas chain saw massacre?

TRUSTEE'S SALE OF 2061 ROYAL FERN COURT 12B TRUSTEE'S SALE OF 2061 ROYAL FERN COURT 12B Reston, VA 20191 In execution of a Deed of Trust in the original principal amount of $212,100.00, with an annual interest rate of 12.1500% from BRIAN DAVID BROWN dated August 26, 2005, recorded among the land records of the Circuit Court for the COUNTY OF FAIRFAX as Deed Book/Instrument # 17705 AT PAGE 2027, the undersigned appointed Substitute Trustee will offer for sale at public auction in the COUNTY OF FAIRFAX, on the courthouse steps at the front of the Circuit Court building for the County of Fairfax located at 4110 Chain Bridge Road, Fairfax, Virginia on January 30, 2007 at 11:30 AM, the property with improvements to wit: APARTMENT NUMBERED 2061-12B, TYPE B-R, SOUTHGATE CONDOMINIUM, AS DESCRIBED IN THAT CERTAIN MASTER DEED ESTABLISHING A HORIZONTAL PROPERTY REGIME WITH ATTACHED PLATS DESIGNATING THE RELATIVE LOCATION AND IDENTIFICATION OF EACH APARTMENT RECORDED IN DEED BOOK 3912 AT PAGE 254, AMONG THE LAND RECORDS OF FAIRFAX COUNTY, VIRGINIA, AND ANY AMENDMENTS THERETO HEREAFTER RECORDED, AS PERMITTED BY PARAGRAPH F.9 OF THE SAID MASTER DEED. and described in the above Deed of Trust.

My realtor this week who is a member of a large chain real estate office was excited that their standard contract language has changed to require that the buyer's lender give a commiittment letter within 5 days of closing or possibly be sued for contract performance.

BELOW ARE THE SERVICES WE OFFER. 90% LTV FUNDING FOR COMMERCIAL DEALS, BULK REO TAPES, DEVELOPMENT, GOLD MINES, FRANCHISE PURCHASE, AIRPLANES, COMMODITIES, NEW VETURES, AND CHURCH MINISTRY BUILDING.

You also need to mindful when it comes to refinancing or reselling to issues like seasoning, chain of title, the need for sequential closings, etc.

In residential properties most lenders want to see typically a 6month to 24 month "Chain of Title" on previous owners.

It sounds to me like the vendor is jerking your chain!