If the property is so bad that "it should be condemned", the other buyer won't be getting financing anyway - A single hole in the drywall, a single stolen light fixture, or even excessively "dirty" carpet will prevent a loan these days - just wait a couple of weeks for the deal to implode and re-submit your offer...

US Bank and Bank of America both have been putting 60 day deed restrictions for cash buyers on all properties (basically prevent investors from reconvening title at all for 60 days).

I was actually worried about the foreclosing lender putting a restriction on the title like a seasoning rule that prevents me resell the property in 30 days or less.....

solid advice tin....i'll work on being a leader...but i just couldnt' lead myself to the answer you wanted, and based on your last thread, that was such a hit, i assumed you already had the answer in mind...to answer your question, you shoulda first implemented strategies to prevent this...corporations, trusts, LLC's...lots and lots of insurance and umbrellas, etc.

This is a debate that occurs often in the 50% rule.Some argue that with owner paid utilities, your expense ratio could very well be much higher than the average 50% while others argue that the rental rate increase for owner paid utilities makes the utility cost average back out to 50%.I personally do not have any verifiable data to back up either argument but my opinion has always been that owner paid utilities gives tenants 0 incentive to conserve and even increased rents could not prevent expense ratios from climbing higher than 50% averages.What are your thoughts?

Used properly, the "rule" should prevent one from going broke because they assumed Rent minus PITI is all they needed.

Why does that prevent a double closing?

THESE RESTRICTIONS SHALL RUN WITH THE LAND AND ARE NOT PERSONAL TO GRANTEE.THIS RESTRICTION SHALL TERMINATE IMMEDIATELY UPON CONVEYANCE AT ANY FORECLOSURE SALE RELATED TO A MORTGAGE OR DEED OF TRUST.â€(Sales representative to calculate value to be inserted in paragraph at 120% of sales price rounded to the nearest $100).I’ve seen this filled out a few ways, including the words “120% of purchase price†instead of the $____, or just the actual number.Note that this restriction does not prevent you from wholesaling a property as long as you make less than a 20% margin.Not too that the second paragraph prevents you from borrowing more than 20% of your purchase price for rehab or refinance money via a second.Transferring the beneficial interest in a land trust or membership interest in an LLC will usually get around this restriction.

I could allow the fear of being struck by lighting prevent me from venturing out in a storm.

That takes a few minutesIts probably a lien or something that's preventing them from providing clear title.