Severe termite damage is probably not the best choice if this is your first fixer upper and sill plate is a pretty important structural element.

The former constitutes a sale while the latter does not.Unless expressly stated otherwise in the legislation, verbal agreements relating to transfers of ownership may be sufficient to trigger a "sale" where there has also been a transfer of possession, provided such oral agreement contains the basic elements of a validcontract at law (i.e. offer and acceptance, capacity to contract,consideration paid or payable, certainty of subject matter, essential terms agreed upon, etc.).

The in service element is the difference. 

We would appreciate any insight on the purchase process and financing connections we can get.Assumptions: 1) Credit score of all parties is 720 or higher. 2) For our due diligence, we are planning to have the following done:  a) An inspection  b)  A PCA (this includes an alta survey and an environmental study)3) We would like to put as little as possible down and obtain the longest amortization possible.  

In the meantime, read and study as much as you can about all aspects of this field.Any legitimate real estate transaction of any substance requires attorneys to review and create contracts and deeds etc, earnest deposit money, substantial due diligence money for appraisals, surveys, environmental assessments (phase1 etc) and inspections.

Therefore, you must be aware of that element.

The software features modern interactive elements that are expected in many fields of industry, but are only just now becoming readily available to realty.

@Heather Fetter I think you're confusing building codes with environmental issues.

Show me a property anywhere (that is not covered by water or has environmental issues) that isn't worth more today than it was in 1965!

My name is Heather and I am looking into REI to help people have environmentally safe places to live.From 2007-2011, my family lived in a home with hidden toxic mold in the walls.