Trying to identify a particular note, then going to the bank to buy that one, will be an exercise in futility...see "wild goose chase".

Keep in mind, RECA, the Real Estate Council of Alberta, has recently upgraded all of the rules regulating the realtors, and they have become quite strict with disclosures, being careful not to exercise undue power and influence over a seller if you're licenced, etc.This course has proved to be more exciting than I expected, however.

Lets say the seller puts in a 5 year call provision, and decides to exercise it.

Obviously, this "should" decrease the UW time, but these loans can take up to 9 months to close s making them an exercise in patience.

You can always listen when you are doing something else such as exercising, riding in the car, etc.

Currently under contract and when we did a title search we found out there is an IRS right to redemption on the property which expires on the 21st.I've done some research and it appears that these things normally don't get exercised but I wanted to see if anyone had some input on the process because I don't really trust any of the parties involved with the sale.

That includes free CMAsA Broker providing services as a Transaction Broker shall:(a) perform the terms of the Agreement to which this Addendum is attached;(b) treat all parties to the transaction with honesty and exercise reasonable skill and care;(c) be available to (i) receive all written offer and counteroffers; (ii) reduce all offers or counteroffers to a written form uponrequest of any party to a transaction; and (iii) present timely such written offers and counteroffers;(d) when an offer is made the Broker shall inform in writing the party for whom the Broker is providing services that such partywill be expected to pay certain closing costs, brokerage service costs and the approximate amount of those costs;(e) timely account for all money and property received by the Broker;(f) keep confidential information received from a party confidential as set forth in paragraph 3 below;(g) disclose information pertaining to the Property as required by Residential Property Condition Disclosure Act;(h) inform the party for whom the Broker is providing services that the party will not be vicariously liable for the acts oromission of the Broker; and(i) comply with all requirements of the Local Real Estate License Code and all applicable statutes and rules.

So, if you do a lease option, the main upside (if you believe buy and hold is better than financing) is hoping they don't exercise the option to buy and you keep the option money.

The due on sale clause simply gives the lender the RIGHT to call the loan due upon transfer of title.The exceptions to calling the loan due in the Garn St Germain Act are below....See http://www.law.cornell.edu/uscode/text/12/1701j-3(d)Exemption of specified transfers or dispositions With respect to a real property loan secured by a lien on residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender may not exercise its option pursuant to a due-on-sale clause upon—(1) the creation of a lien or other encumbrance subordinate to the lender’s security instrument which does not relate to a transfer of rights of occupancy in the property;(2) the creation of a purchase money security interest for household appliances;(3) a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety;(4) the granting of a leasehold interest of three years or less not containing an option to purchase;(5) a transfer to a relative resulting from the death of a borrower;(6) a transfer where the spouse or children of the borrower become an owner of the property;(7) a transfer resulting from a decree of a dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property;(8) a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property; or(9) any other transfer or disposition described in regulations prescribed by the FederalHome Loan Bank Board.

Not the 100k they are asking.I also couldn't find the tax information on this property so I used what they had in the listing.Please note , this is merely a training exercise for me but would be a real life example of what I would be prepared to invest as a newbie REI in charlotte, nc.I am looking for at least $200 per door and a 12% return on investment over time.Is this even enough information for you guys to help me?