So now, the banks realize they don't have the OFFICIAL ownership documentation.

My understanding is that in Ohio, there is certain language that must be present.

http://www.banx.com/We are in the 3's on average according to banx.com the site we said would be the official word.

With FSBO, you can usually negotiate or simply include that language into the contract without the homeowner even knowing what it is.

First off, I'm officially in escrow with my first investment property!

Otherwise, they're in default and you can at least keep their earnest money.A big determining factor will be whether it's an FHA loan and whether you signed the standard FHA addendum to the contract.In my state, the standard FHA addendum used to say that the seller had the option to lower the price to appraised value (giving the seller the leverage to make the decision), but the 2011 version of the form gives the buyer to back out if an agreement can't be negotiated (giving the leverage to the buyer).I'm not sure if the language in that addendum is uniform across all states or not, but if this is an FHA loan, you'll probably want to read the FHA addendum you signed (assuming you signed one).

If the tenant interfered with the process they would have been arrested (IA has a great charge of "Interference with Official Acts").

I would like to see, in clear detailed language, with dollar figures, how the purchase-auction-sale of a typical flip works.

There is actually another home on the same street where we purchased ours that isn't officially for sale but I spoke to the owner as it was a rental in the past and noticed it is currently empty.

Obviously, every owner has to decide for themselves on this.But, we do not provide it in any language other than English nor do we execute our leases and other agreements in any language other than English.There are very specific liability reasons we do not conduct business in any language other than English.I am not saying others should do what we do.