For one, you're going to get the owner to give you an "authorization to release" form filled out and signed for each loan.

The servicer is generally granted authority to adminster the loan, make demands, etc.

The point the authors make is that while many people are leaving the marketplace due to the media's drumbeat of "crashing RE markets" and the increase in market supply, savvy investors should be buying as many good deals as they can instead of sitting on the sidelines waiting for the market to finish its correction.

You don't want someone else (relative or friend) to enter without proper authority.

You can get Deals on Wheels here at BiggerPockets . . . the book is great and the author Lonnie Scruggs is an amazing guy!

I only ask that because the chances of making a profit are not good when you buy a junior lien at the auction if you have to cover the first as well.Maybe thats another thread. lolTo the author..... read these replies and take them to heart.

I am also involved with my very first "Short Sale" and experienced alot of upfront concerns with getting someone in that department to talk with me.One of the keys is to make sure that the person that you are tryig to buy the home from provides the lender with a "Letter of Authorization" to speak with you regarding this property.

The author is a RE attorney (CO & NY) and investor.John Corey

I even helped write (with no author credit) an internal guide when I worked with one of the Big Four for the leading guy of the firm in San Fran that specialized in 1031 (I was low on chargeable hours and needed a project).

Then you submit your offer to the bank with an addendum that says something to the effect of "upon approval of inspection of addition by licensed contractor, or county authority".