The insurance settlement often takes months if not 1 year to settle often involving a lawsuit....

Of course the time between contract and settlement may exceed the 30 days but that is automatically covered in most agreements.No, don't tell them to go pound sand - just protect yourself with terms you can live by. 

Details:PP: 240000Annual rents: 27600Assessed: 280000Owes: 220000 @4% 30yr fixedBuilt:1960Owned for 3yrs.Annual taxes: 5600  I haven't read the settlement paperwork that your friend signed, so I will not comment on that.

I believe it's not subject to lawsuits or divorce settlements.

The seller needs to know that you are making this offer for a short term profit, that you have the right to market the property by private or public treaty to find an assignee, and that if an assignee is not found before the prescribed settlement date that this offer is subject to cancellation.I like to get the seller 100% on my side as a co-seller, a shared equity (know as a Hybrid).

The author of more than 30 books including Taxation of Damage Awards & Settlement Payments (4th Ed., 2009), he can be reached at [email protected].

Then you go from there, sign contracts, EMD to title company, then settlement. 

The insurance office was scheduled to close at noon, but stayed open so I could get the insurance for the settlement today.

The problem can range from minor cracking in walls and ceilings to major distress caused by excessive foundation settlement.

How the borrowers are vetted:1) Credit - we check whether he pays his bills and if he has some outstanding debts, liens or judgments2) Capability to Pay - we want the borrower to have SKIN in the game (at least 20%) and he deposits it in escrow; we also want to know how much income he makes in case the property does not sell in 6 months, will he be able to pay the monthly interest payments3) Character - we run a criminal background check4) Rehab experience - we ask for 5 HUD settlement statements to show the borrower has done deals beforeI don't have any defaults.