I cannot convey to you the endless morass that sits in my mind and festers in my heart.I have heard everything you have said before.

The obvious thing is what they can get for their property, but I'm wondering if there are certain things that I can convey to put their mind at ease about the whole process.

Is there anyone here who has used the system promoted by Bill?

I am interested in how it has worked for people who have actually used the system.

John Corey

Now, I can see entering into a contract at whatever price, contingent on him being able to convey title, where you give him some refundable "earnest money" which he has permission to use toward his foreclosure costs (this is your scenario #1).Scenario #2 seems less workable to me because the assignment just makes a cloudy title situation worse and would probably result in a massive mess if the owner redeems.

I can't imagine there are any state specific rules about dealing with UST prior to conveyance, even in today's "Big Brother" environment.

The option price paid is for the right to buy, but not the obligation to buy.Steve, you really need to start over before you hit the streets trying to do deals, start with the basics of RE not systems or strategies, you need to understand basic rights conveyed under different standard types of agreements, then the strategies will fall in place. :)

But whether you use letters or PCs, you need to convey the right message to get the right people to call you.

You'll see the economics of RE, understand the conveyances of RE, what rights are held, how financing is accomplished, how to value properties and markets and different uses of properties as well as your state laws and local customs.

Use a warranty deed conveying a half undivided interest, go to a closing company, get title work done with a new policy with both of you as the insured, change you hazard insurance policy as to the insureds. :)

As a note buyer you purchase a secured obligation where the owner has given a security interest in a property, they never conveyed any interest beyond that which was necessary to secure the lender's interest in the amounts owed, they didn't deed the property in ownership.