It could be someone with a good credit score who gets paid (part of her/his income) in cash and cannot qualify for a loan without revealing undocumented income.

The true cream of the crop often reveals itself during this phase. 3.

The other thing, is that once you get an inspection that reveals a cost that you did not see up front, you can renegotiate.  

It reveals if any claims have been filed on the property in the past few years.

Listen to my podcast - http://Biggerpockets.com/show65You can also follow my "wholesaling journey" - I reveal to the BP Community what happens to my wholesaling business every single week.

who is a stickler.Don't bring up catnip because you'll reveal your partner.

HUD PCR report reveals that everything is in working order.

That's not too helpful.Expecting one of their peers to reveal sensitive information to a complete stranger on the phone is a little optimistic.

@Andrew BoettcherUnless there's a friendly lender or local program out there that anyone has yet to reveal (please do if you know of one), that 5% down program will only work for people who don't already own property.

There are 2 parties which will protect your investment as bank will do an appraisal before they will lend and home inspection will reveal any major issues. 3.