In my state, to do this, all I need to do is to add a stipulation to that contract that says that the contract is subject to the approval of both party's attorneys.

But with REOs, you'll often be asked directly if the purchase is "financed" or "cash", either upfront when you submit the bid (for example, the FNMA online system asks this) or when you complete the REO addendum when you get the property under contract.I've had banks tell me that they'd kill the deal if I checked "cash" on the addendum and then tried to finance the deal, despite the fact that I included a stipulation in the contract that said I might finance (the addendum overrides the state contract).Just something to keep in mind.

Thanks for the insight i forgot about that stipulation.

thank you- but maybe im not being perfectly clear-an associate of mine OWNS the property already--he has been rehabbing it to sell and needs more rehab capital--i am going to give him that capital, BUT, i want to be secured in case anything happens and he cant complete the rehab--i dont want just a promissory note, i want to be a lien holder on that property with the stipulation that if he doesnt finish the rehab and close on the sale to the end buyer, then I can take over that property--hope this helps--thanks so much

If you want to make sure your safe put a 5 day inspection period in the special stipulations section of the contract giving you to terminate if you inspect the property and find it unstatisfactory.Again these are my views from Georgia.

Also, most contracts/offers will stipulate that the seller must provide marketable title, guaranteed in the form of title insurance or chain of title reviewed by an/your attorney stating that it is free of defects.6.

Put in the special stipulations section that "This contract is assignable"Next find another investor.

Donate money to a local religious group with the stipulation that they make her payments and that they do not identify where the money has come from.There are all kinds of ideas.

California can be such a PITA sometimes but I love the weather.Originally posted by "REI":You can use the standard form with a custom appendix that has all of the things you want to change, modify or add.An Addendums or Stipulations page is standard on my contracts.

What you are wanting to do with it (your exit strategy) stipulates what formulas you need to use to determine what the house is worth to you and what your offer is.If you are planning on fixing up the property and reselling it on the retail market, then knowing what the After Repaired Value (ARV or what the house will sell for all fixed up) is and the estimated repairs are the two biggest factors in determining your offer.If you are renting, lease optioning, or carrying the note, knowing the fair market rent will be a huge factor in determining value.If you are wholesaling, knowing what investors will pay in that area for that type of house is essential to determine value.To figure an offer on a property, start at the end.