Both parties can commission their own attorney or use a Realtor to draft a sale agreement.

Each title company presents their 'offer to insure' called a preliminary report, subject to their interpretatation of status of title and their list of exceptions, if any, which are the 'fine print'.Generally, prior to a quiet title or other lawsuit requiring notice to other parties of interest (including creditors) a litigation guarantee is the product offered, naming all those parties that requiring noticing, including any government agencies. 

Rate lock for six years and then annual resets thereafter sounds like a lot of risk Put bluntly, don't assume that you, or I, or anyone, can accurately predict where the market is going and in turn, where interest rates are heading.  6 years is a long way out, with a whole host of impacting events in the middle of it (Euro-zone issues, an election cycle and new president, potentially a new party being elected, etc.).  

Welcome to the party.

I have lent but I knew and greatly trusted the party I lent to.

This part I am not too sure on, but the warranties are tied to the original purchaser so it's not transferable, as far as I know.If anyone else had a difference experience I would like to know as well.

The waiver applies to all sales contracts executed on or after February 1, 2010, until 11:59 PM, December 31, 2014.FHA deems a sales contract to be executed when all parties to the contract have signed the contract, and the contract is enforceable under the law of the state the property is located.Mortgages that are made on properties in which sales contracts have been executed after 11:59 PM, December 31, 2014, are not eligible for a waiver of the regulation prohibiting property flipping.FHA will not extend the waiver beyond December 31, 2014.Section 203.37a(c) lists the sales transactions exempt from this rule.The exempt transactions include sales by HUD of real estate-owned (REO) properties under HUD’s regulations in 24 CFR part 291, sales by other federal agencies of REO properties, sales of properties by nonprofit organizations that have been approved to purchase and resell HUD REO properties, sales by state - and federally - chartered financial institutions and government sponsored enterprises (GSEs), and, upon announcement by HUD through issuance of a notice, sales of properties in areas designated by the President as federal disaster areas.The regulation, including its exemptions, is still in effect.Quick Links and ResourcesReview the Federal Register Notice (Docket No.

Thank you, J.If your buyer's lender cannot have a signed contract before day 90, get it under contract now with an addendum stating that all parties agree to replace the contract on day 91 then send the new contract off to underwriting.

Usually I'm against this kind of stuff but for $150 and something that absolutely benefits both parties, I would say consider it.

My fiance and I have been getting turned down for rentals rather it be through a rental company or private party, we dont have the best credit but we have very good income coming in even after taxes being taking out.