Marlene, good thinking, the simple answer is yes.A sub-2, done as a wrap is an asset in the estate and the underlying mortgage is a liability, the contract will be passed in the estate settlement, The bank will be notified of the borrower's estate settlement.

It is legal and it is on the HUD1 Settlement Statement.

Your housing inventory and market will have much to do how "easy" it could be, but you'll find distressed properties having every issue that may exist in real estate keeping that property out of a more efficient market, daahhhh, "distressed properties".A home that is market ready will be very hard to find to buy at a lower price that can be passed on again at a profit, especially if you have two settlements required in the mix.Seems some are taking this personally, nothing personal about it, remarks as to a class or group of players is not personal, but more to aspects of ethics and professionalism.

If you are unsure what the costs may be, you should be able to get an approximate value from your lawyer or escrow company before you get the actual settlement statement or reference previous deals.And there is nothing wrong with Wholesaling as a whole, but its a rough sell to sellers and buyers alike.

The Buyer(s) & Seller(s) nor their Agent(s) listed below have any agreements (written or implied) that will allow the Seller(s) to remain in their property as renters or to regain ownership of said property after the successful execution of this short sale transaction.†HUD/FHA/VA, Fannie Mae, Freddie Mac & FDIC are now carefully auditing short sale transactions going forward and are also looking at past closed short sale settlements that may have been considered non-arm's length transactions.

The seller is credited on the settlement statement toward the sale price in the amount of the loan he is carrying back or making.

That was not asked so I assumed Jon and the settlement agent and attorney would cover it, but if I were buying I want an assignment on all personal property in the place to the extent of my buy in.

They just are not exposed to the business side of a brokerage, except when they have to go to the office and provide a correction.While many think the closing company is responsible for a closing (they are to a degree) but itis the listing broker who is ultimately responsible and gives closing instructions to the settlement agent if there is anything off center from the customary, depending on state law.

It wIll take just as long with another settlement company.

So, knock it off.Why the heck is your buyer seeing title before settlement?