Bottom lie I think your going to eat this one. hang in there. prepare for the worse and hope for the best.I just met a guy that gave $18k cash to another guy that promised him 12% return. well long story short this highly educated senior electrical engineer is out $18k. with no contract, or collateral he is out of luck.

You get financing, he gets his loans paid off and walks away with cash.Now if the sale was a week away you'd have to get creative but if you've got time go the safe route, get title insurance, etc.

If need be your friend needs to be prepared to go before a judge to protect the common assets.7.

This doesn't even include the things to come when it's time to actually list, sell and close on the property - someone's got to review the HUDs, answer the phone calls and count the money.Lenders are also taking a closer look at "Repaired Marketing Strategies", especially in new home communities.They're simply not prepared to break their routine, or re-route personell for a single property; It wouldn't be worth the increased liability, or man-hours.I'd add one other thing; On most properties, with most banks and asset management firms, a listing agent is assigned within 1 to 7 days after foreclosure.

if you move, 17k will go a longer way and you'll find "creative financing" is more welcomed.17k in NYC is like a dollar crumpled up on the floor in a crack house.

A few years ago this may have been a very creative option where some people probably did make many thousands of dollars, many times over...

Build into the schedule the fact that some of the time you will get bad info and be prepared to adjust.

Consider it a sign of success if you get that large and be prepared to pay the going rate.John Corey

Maybe there could be some sort of data base or sticky thread with that info.state county transfer tax (% or none)Yes, I agree that new loan docs will need to be prepared and signed.

Let him know that you are prepared to report his actions and sue for damages.