It's good to have an agent on your side looking daily, because that is where I noticed most people are losing out, they are just too slow, and hear about the "good one" too late.I had a client who I called the day the house she wanted fell out of escrow, they lowered it another $25,000.

Just started reading here and noticed alot of abbreviations.

For cash out refinances the borrower must own the property for at least six months prior to refinancing.http://www.freddiemac.com/sell/guide/bulletins/pdf/bll042208.pdf.Rein USA..Basically, if your lenders conforms or sells their loans to Freddie or Fannie you may need to find a new lender.

Once or twice with a Fannie Mae REO they required that I put 10% of the purchase price as earnest money, so I had to put $3,000 or $4,000 down.Bottom line being that I wouldn't lose a deal over earnest money.Now something to know in Texas, if you default on the contract, which means you don't close but you are NOT using a contingency, then the other party can take the earnest money OR they can sue you for specific performance and/or damages.

They just want to sell NOW.If that is true (which I can agree) and your sellers are not educated or picky, then they will not even notice the contingency you put into the contract.

And also check for notices of defaulted mortgages, send those people letters or call them up.

I then googled it and noticed :roll: the price tag, huh!

This notice has to include the time, location and property of the foreclosure sale, the trustee's name, address, phone number and a statement that the property is being sold at an auction.

Other than a few short notice move outs, I've not had any real problems.Folks with "bad credit" or "past issues" are usually those that pay cash and want to fly under the radar.I don't even take damage depsoits as inevitabley when they do move out they are going to hound me for return of " their money".

However, if you're pretty sure the owner's in "trouble" try to determine her "zero out" price on the house, when you view the property look on all closet shelves and kitchen drawers to see how many late notices from the light company, cable company, Sears, Master Charge etc are sitting around.