Not unusual at all.

Getting an offer of $150K accepted vs a listing price of $199K would be unusual, though not impossible.Here in CO, banks convey properties with a "special warranty deed", which basicallly says "we didn't create any liens on this property".

@Matt Vogt Outside of the yard, there's nothing particularly awkward or unusual about the home or it's finishes.  

These kind of properties seems unusual but I might get lucky.

Anytime you read stuff on the internet you need to be aware that you'll likely get sizzle, fluff or embellishments related to any system or method, what may be stated can be very true but true under unusual circumstances or apply in a certain area.

Unless its an unusual situation, specifically, a contract for deed (aka land contract, installment land contract), you do really own the house.

A five year hard money loan would be very unusual.

Not unusual.

@Jon Klaus  I live in Sunnyvale, rentals in Mesquite and one in Garland, the Garland one is always the most expensive to insure.I will say one reason my residence is so cheap, they (insurance company) put a new roof on a couple of years ago, and reduced my rate,,,sort of unusual, I have a rather expensive claim, and the result is my rate goes down!

A very unusual situation here.2nd deed of trust trustee sale opened at $218kAt the same time the 1st deed of trust opened at $27kNo subord agreements - no other liens.In NC we have a 10-day upset bid period that resets every time a new bid is placed.The house is worth upwards of $650kWe are bidding on the 1st - we were just upset again.