Give him a notice in writing that you are cancelling your agreement.

We might even bounce (dead-cat) small for a little bit.The next BIG leg down starts in the fall where $135-140/barrel crude really starts taking it's toll and the wide-spread job losses start occuring coupled with possible reduction in mortgage purchases by the GSE's (freddie & fannie) and the fed bumping rates up a tad to support the weak dollar.

Here are some ways to get past your fears and into the cash.If your strategy has been to buy and rehab at 70% ARV and flip for market value, consider this--right now many REOs and Fannie Mae properties are available for 20-30 cents on the dollar.

:lol:Not many notice that.

Pursuant to Section 3712 of the Revenue and Taxation Code, the tax deed conveys title to the purchaser free of all encumbrances of any kind existing before the sale, except:• Any lien for installments of taxes and special assessments, which installments will become payable upon the secured roll after the time of the sale.• The lien for taxes or assessments or other rights of any taxing agency that does not consent to the sale under this chapter.• Liens for special assessments levied upon the property conveyed which were, at the time of the sale, not included in the amount necessary to redeem the tax-defaulted property.• Unaccepted, recorded, irrevocable offers of dedication of the property to the public or a public entity for a public purpose, and recorded options of any taxing agency to purchase the property or any interest therein for a public purpose.Any federal Internal Revenue Service liens that, pursuant to provisions of federal law, are not discharged by the sale, even though the tax collector has provided proper notice to the Internal Revenue Service before that date....according to that, California tax sales doesn't seem pretty free and clear to me.

Worse is the Fannie Mae executive that Obama just fired for his favored treatment as a Mozillo "friend".

A good deal of my work is involved in the preparation of title commitments, to finding and implementing the curative processes of any "hiccups" found on title, to inlcude liens, judgments, notice of commencements, and deed preparations, etc...

But they are a great way to advertise and get your site noticed.

I used to live in the same street 2-3 years ago and I noticed the house became empty at the time.My course of action is to send the owner a letter to express my interest on their property.

Plus I think its critical to have multiple exit strategies throughout the transaction, and after closing, (which is a whole new thread to have an in depth discussion about).I noticed a few of you said to get in touch with investors in your target markets.