So I have to do exactly the right thing.In this scenario it might be better to secure the income and then pay off the debt once that's complete.

As government deficits grow local, state and Federal officials will look at other ways to increase the revenues and those fat cat vacation property owners look like mighty fine fixings.10.

3) Who do you use to make the sale official?

Sure would be nice to have a clear cut answer to that, but there is not.There are too many variables involved, remaing term, credit, seasoning and proven payment history, collateral, loan to value, property condition and the details of the contract including the security assignement and foreclsoure process.Best to get bids, and look in your area for other investors, including those who buy RE, your best deal might well be from a local individual looking for a good investment.

I can confirm what Dawn says, nothing specific about late fees in the WI code.Related: In order to deduct unpaid late fees from the security deposit, you must specify that you may do so in the "Non-standard rental provisions", otherwise it will be an illegal sec. deposit deduction.

MO Safe Act: Unless licensed, no person may act as a mortgage broker, mortgage lender, or mortgage loan originator with respect to a residential mortgage loan secured by a mortgage, deed of trust, or their equivalent consensual security interest on a dwelling or on residential real estate located in Montana, unless the person is exempted from licensing requirements by Mont.

For example.....25% down = $12,500[u]Then what sort of cash reserves/assets would a bank want to see in order to secure this loan?

I forgot to mention, the second building is not registered with the city so the second building sq ft does not count officially.

Here is frome the seller to the agent""Can you please secure a "verbal/electronic" agreement with Wendy today as follows: We (Seller) accept her offer at $78,500 with Seller contributing 2% to her Closing Costs, with $2,500 deposit and closing within 45 Days.

Find a foreclosure, look at the company that secures them ask the workers that do to give you a heads up on anything that looks meets your standards.