The note would typically have a Due-on-Sale clause as well, that permits the noteholder to immediately call the entire amount due at any change in ownership.Just think of the seller as the bank (other than a Contract for Deed situation, as Don said).

$80k seems to be relatively small compared to the amount they will make from the sale.

After inspection we ask seller to fix few vital items like the heat wasn't working.

It can lower the mortgage amount and eliminate PMI for Homebuyers.

There was a starting amount of 300k, would i need to bid above 300k or any amount over $1 since it has no bid?

For those in the highest tier (or know about it), can you give a general description/example of how the process goes in terms of if you have to fill out a lot of forms in order to invest in properties (and if so approximately how many) and what amount of time you spend a week on your investments?

I suspect most lawyers over this amount of money would tell you what I told you get someone or you to go look at it and pay her or dont pay her if work was not done. 

Investment Info:Townhouse fix & flip investment.

When we do the construction loan, we'll take the cost you paid for your lot, your soft costs (plans, permits, property prep, etc) and add it to the build costs (keep in mind, we'll make sure those amounts are fluffed and that they make sense).

Worded differently, the money saved in energy bills because of an improvement, must add up to the same are greater amount than the cost of making the improvement.