So we would make an offer of $299,000, pending inspection.If inspection brings up more issues, then we would in turn deduct the repair/replacement costs.

Couldn't the current property owner sign off on a quit-claim deed once you own it (This is, pending the property owner willing to do so once you've become the new bank).

*2) "Pending release." - is that something to worry about from the buyer's perspective?

Generally, the price at which I'm offering them is significantly below the asking price on MLS...except that often, once I've put them under contract, the listing agent lowers the asking price to what I offered before marking it "pending".

It depends on state law and at what stage to foreclosure process is in.In Texas, if they have posted the notice on the door of pending foreclosure and Sheriff's auction, then the bank cannot deal with you at all.

Originally posted by Jon Holdman: Many are going to withhold the rehab money until you do the work, so be sure you have a way to fund this work until you can make a draw against the rehab escrow.OR make sure your contractors will work in advance of payment from the the HML (pending a passed inspection by the HML).

I am considering a VA-home loan (pending further research) secondary to no down payment required.

If it's a really great deal go ahead and lock it up with as cheap earnest money as possible now to get rid of competitors so it changes to pending status.I can guarantee others are looking at it right now and running the research you are as well.Get it locked up cheap and then do most of your research in your due diligence period.If you find you do not want the deal you can always assign it for a fee if allowed or bring in a partner to help with additional costs that is discovered or you can negotiate the price down further.I see it everyday where an investor does too much upfront work and do not get it under contract and lose out to someone else.

Many people state the same thing, that property went pending first day.

Not sure what's going on, and why the final still pending. it's 3 years ago.They told me that we have to final the foundation permit before we could apply the new permit. and I am thinking to find the last inspector who inspected the foundation to see what's going on. the foundation is done, is there any protencial risk with they signed off the Rough inspection?