@Natasha Wade  I suspect this happens but on its face its TERRIBLE business practice.. and as  HML I would NEVER do this.. giving nameless people who may or may not be credit worthy the ability to tie up property, based on this phony letter is just HORRIBLE way to do business.In my mind your either in the business ,,, have thought it through enough to have capital or the ability to get capital or you sit it out until you do...LOL   blind leading the blind.. 

St Louis is terrible IMO. 

You shouldn't work in Cobb County, I hear its terrible there and there's no deals...in fact, I hear anybody who works there gets horribly diseased and their wives leave them.On a serious note, I like to hire guys that aren't driving forever to get on site, but most GC's in Atlanta are used to driving across town, so they really dont have to be local to Cobb by a long shot.

As others have mentioned, seller may not be terribly motivated as of yet but time can change circumstances and you just want to be there if/when his circumstances change.

I personally used American Home Shield at the time but I have had some terrible experiences with them since then and do not do business with them anymore.

Hopefully you can all help convince me this is either a great deal, or a terrible idea.I have a potentially great deal that was brought to me by a member of BP.

Brie:Actually, your FHA programme and our CMHC homeowners programme are not terribly different: the intent and basic parameters are pretty much the same.

Not only is it not a steal, it's a terrible deal..

I watch Flipping Vegas and I realize it is a TV show but it depicts terrible treatment of the contractors and laborers. 

Terrible idea.