At this point you can close or forfeit your escrow deposit and consider yourself fortunate you found whatever major issues you did prior to closing on it where the cost would have been much larger.

Heres the situation, the tenants currently renting the property are paying $1150 month and complain to the owners about major repairs needed.

Typically from what I have been reading there is a lot of uncertainty from the people that have used the site to bid on properties.With that being said there are a number of people that claim it is legitimate and the major problems stem from lack of due-diligent on the part of the bidder.

It's a reasonable indicator of an ARV for the neighborhood if the property was in similar condition to a majority of the sales.

Sure, that's possible if you mix a few low balls (the majority of deals) and one huge winner into the bag.

The declaration and by-laws will spell out what it takes to make major HOA changes.

I'd imagine there's a market for that kinda thing in every major market if a certain percentage of them turn into deals.I've worked my fair share of estate sales, but have only targeted probate once.

If prices keep rising, then we will revisit our criteria to changing market conditions.We have picked up 5 houses in last few weeks, so it will keep us busy for next few weeks, during which we will monitor the market to see how we need to move forward.We still buy majority of our deals through MLS, but this year we purchased a bigger % of non-MLS deals than previous years.

@Victor Roberts , I have found that the overwhelming majority of people posting those keywords on CL are wholesalers themselves.

While the term sheet isn't a commitment it ensures that everybody is on the same page with regards to the major business points.