Practice controlling real estate with a skinny contract subject to assignment.So if you control a property (using all the right clauses) for $100,000 and you find an assignee for your offer at $130,000; you make $30,000 without going to settlement, without a loan, without a hard money lender, without settlement cost.

If title work clears, we go to settlement on that property.

You can always just sue on the note and/or offer a $4k settlement on $92k. 

You can literally ask to have your name put on the HUD and oila, you're paid and 1099'd by the settlement company (or attorney). 

What you are going to do before settlement, 4.

What is unused from the estimated deposit is usually given back as a credit on the closing settlement statement from the title company.

This is not legal, unless it is disclosed be ready to do business, since you are paying cash, have that cash ready; get credit lines, borrow money and put it in account for your auction business, have partners (preferable family) with the cash ready to useget your name on the mailing list of all of the auction companies in your area so that you are notified of salestalk to the auction associate in charge to try to get some inside information about the sale; is it owner ordered, bank auction, foreclosures, will they accept a precaution offerask questions, what is the reserve (sometimes they will tell you, sometimes they won't, what is the balance of the mortgage, if your are the high bidder will you get the property free and clear of any liens what is the first deposit, what is what is the second deposit is there interest on the high bid from the day of sale to day of settlement (this could be very expensive), there are times when due to a legal situation, the trustee can't settle the property immediately and it may take 6 months or longer, this means that you may be paying 1% or more per month until settlement.how soon will you have to settle, 5 days, 10 days, 30 dayscan you have possession immediately (you should get this, it will give you a head start on cleaning the property up and prepping for re-sale or rentalwill the auction company disclose any known defects (septic system failure, well failure, termites, water problems...etc,ask for a copy of the auction contract and forms you will be required to sign and read every word......make sure you understand what you are committing to do (many of those contracts have hidden clauses that will hurt youwill they accept your business or personal check (try to get approved to use your checks (most auction companies require certified funds, if that is a requirement, get a certified check made out to you)make sure you have good comparable sales data, you need to know what the value is and what you can sell it for immediately if you have to, try to understand the repair cost alsoyou may want to consider selling the property (assignment) before settlementset your high bid price and don't go highercheck out your competition at the sale, most of these folks are professional buyers (predators) and will out bid you or give you a chance to out-bid yourself......be careful, try to get to know them (you will see them at every auction sale, they are really good at what they do.

I did the latter and after filing foreclosure from my 2nd position, borrower finally responded a few weeks before the scheduled auction date and we agreed to a settlement.

The borrower must have sufficient funds to cover borrower-paid closing costs and fees at the time of settlement.

(there are several, I prefer the one where third party needs to be found before settlement)4.