He has 3 days to close or his broker will be upset with him.

Hey all, I have become a pretty busy REO Broker here in NJ and am up to my ears in GMAC defaulted properties being listed across the great state of NJ.

However I don't want to sign a 2+ year contract with a broker, because I am not sure how long I want to stay in Indiana, and I know that I won't be seeing any money from sales for a while.

Find in particular a commercial broker as well, and pick his brain for the local financing information you seek.

We have been purchasing and brokering notes for almost 5 years, and what we have found is the so called buyers are not actually the buyers, they are flipping to other investors.

So does a mortgage broker do this "wrap" mortgage or is it something we do on our own?

Be sure to try and get it in front of as many realtors and mtg brokers as well.

Also, a mortgage broker told me in order to obtain a decent interest rate, I would probably need 20% down for an investment property.

we have just heard that of today the Bank of Scotland is putting outa form that every one has to fill in broker solicitor vendor they want to put a halt to the NMD deals so every pound has to be accounted for. so we cannot walk away with any cash backs. first BOS tomorrow the rest.of the lenders creative thinking neededRegardsLes

Correct, anyone can sell there own house, they do not need a license and other brokers can not go after you, hence the FSBO.