Before going for short sale, there are few things to be taken care of: Discussing the ramifications with a real estate lawyer in order to make sure of understanding all the consequences as not every seller qualifies for a short sale, and not every lender will accept a short sale.Realize that short sales affect credit, and redeeming a pre-foreclosure on your record could prevent you from buying another home for a while.You may owe the IRS taxes on a short sale.

The original purpose was to prevent loan sparking, criminal activity associated with it, and to protect consumers.

Hopefully this is the first of many holes that will get punched in the new real estate bubble that will prevent it from over-inflating.

Also, depending on the nature, it might be something that would prevent a lender from financing a borrower.

Reason being if they have a lease you may have to evict, this keeps you secured in retaining their funds, but prevents them from potentially having to be evicted.DEPOSIT TO RESERVE HOUSERental Address:Name:Phone Number: ___________________The undersigned has hereby given a deposit in the amount of Five HundredDollars ($500.00) to reserve the dwelling located at the above address for possible owner consideration of acceptance of rental.

Probably not ... but putting a shutoff within the conditioned space will allow you to leave the outside spigot open in the autumn to drain ... and prevent this from happening again.

You will be able to learn so much, that when you start you can prevent common real estate invedting mistakes.

Make sure your contract allows/doesn't prevent assignments.

I hope you have a good PM because section 8 requires the utmost care in all things to prevent problems.

The Fed has been trying to prevent another deflationary cycle since 2008 because once they get going they are very hard to stop.