beside a few miss-spellings, I've continued to pass with flying colors.

It should spell out the usual and customary settlement fees.

Any $8 an hour secretary can spell.

., what's owed plus the amount to bring it current plus the repairs is still well below the value, and the rent and total works with the 50% rule), I think I'd do an option with the owner that spells out the subject to deal.

The title company records both of those.The borrower will also give you a promissory note spelling out all the details of the loan.A lawyer could certainly create all those docs.

Hope the spelling is right, but I really liked them especially for new investors.

If things are spelled out, you could proceed under certain circumstances, such as one seller taking bankruptcy, the deal can continue or be reset.

Also, the fact that is a legal and binding contract can work against you if you don't specifically spell out your intentions from the beginning - if you intend to assign the contract, put that in the contract somewhere (unless the right to assign the contract is a given right in your state - I'm in Texas and it's not here).As I said earlier in the post, I use options on most of the deals I do.

I think the rest is spelled out above.

Any advice, words of wisdom, constructive criticism, or magic spells to share?