You are in someone else's territory and need to have a heightened level of awareness.

This morning Wachovia Corp reported a dismal quarter which heightened concerns about how corporate results will fare amid the ongoing credit crisis.The nation's fourth-largest bank suffered more write-downs linked to its troubled mortgage business, and slashed its dividend for the second time this year.

You can just surrender option since there is no recorded change in title.2) Heightened disclosure to end-buyer lender in title commitment which denotes speculative nature of transaction.3) Available to use in any state.With the Land Contract:1) Name of seller on Real Estate contract matches Title Commitment.2) Name of owner on Real Estate contract matches name on Appraisal.

A thread I started today in another forum enlightened me to the fact that I haven't established my criteria.

I don'tknow where a person would buy options for $1 butI'm going to grab some popcorn and sit right hereand wait for someone else on this board to enlighten us all.From re-reading your post it sounds vaguely like the idea:"put a property under contract and then flip it to a developer".Maybe...is that what you've heard and you just assumedthat the way to get it under contract was to option it?

Your post was enlightening to say the least.

Least I have a degree to fall back on :D .but I digress...Thanks for the info--very enlightening!

Just drop me a line :D Also, I was looking into preconstruction investing in places like FL, GA, and NC/ SC, can anyone who has this type of experience advise and 'enlighten' more on this subject?

OK, so how about you try to enlighten the rest of us?

If rates rise a great deal some lenders will have a heightened incentive to call the note.