The reason is quite simple... they aren't going to bank their money on a third party without skin in the game getting a buyer - while at the same time they cannot sell it to anyone else.The way to do it if you don't have your own capital/financing to acquire it, or don't want to use it, is like Stephani said, double close.

Yes, underwriting considers many factors (like LTV), but I am thinking only of cash down payment, or skin in the game.

Banks want skin in the game so you're going to need to put down cash if you want that REO.

The threat of a huge negative campaign as a tool to controll the politician's vote.It's a constant source of irritation to me how easily the voters are manipulated.

This is where I take issue with many so called (wholesalers).If you are not closing on the property with your own funds then you really aren't a buyer to me.Your simply a middle person trying to collect a fee for putting 2 parties together.If you are a cash buyer I would want to see proof of funds bearing your name or the name of a corporation you control valid within the last 30 days.As a seller I wouldn't allow you to lock up a property for no skin in the game and when the end buyer goes away I the seller am still stuck with the property.It's fine if you want to assign it but I would want you personally liable to perform if the second buyer was not able to purchase.Just make the offer and see how desperate the seller is.Good luck.

It depends on conventional,conduit, or a specialty loan.Recourse versus non recourseLoan TermAmortization PeriodInterest RateLoan FeesLockout PeriodPre-payment PenaltiesCredit ScoresUnderwriting GuidelinesLoan Documentation There are absolutely loans you can do putting 10 to 15 percent down and have the seller hold a second for 10 to 15.For the seller many don't like to do this for many reasons.1.The second usually can't be sold off if they want payment now as note buyers want first position.If they buy a second the property would have to have substantial equity in a declining market to mitigate risk for the note buyer.2.If something goes wrong with the property the owner almost always defaults on the second first and stops paying the note.3.If the seller has limited equity then taking a second back might have the seller bringing cash to closing just to cover closing costs and real estate commissions.There are other reasons as well but you get the idea.On the 70/15/10 type loans the interest rate will usually be 100 to 200 basis points higher (1 to 2 %)The less skin you have in the game the more uncomfortable the senior lender is.Hope it helps.

Why not joint venture with someone - maybe your skin in the game is the lot; they build something marketable and you agree on a return of your investment (plus taxes) and a fair split of any profits upon sale.If it's nice enough area for you to want to build - then chances are there is a market.TTFN,Greg

It sounds like he wants me to have some skin in the game.

From pages 786-787 "The development of a long-term sterilizing capsule that could be implanted under the skin and removed when pregnancy is desired opens the additional possibilities for coercive fertility control."

Lito - It just helps give you thicker skin.