In most states working with pre-foreclosures are sophisticated transactions that must follow specific laws and guidelines.

Supply under $300k has increased a lot in new homes and transactions around $200k seem to be on fire.  

I went with him to his lawyers office who helped him with the bankruptcy and he said that my neighbor has until the sheriffs sale to sell the home or move out, implying to me that he could still sell the home.We tried finding out who serviced the loan and who owned the loan through our county records department and even they said that the chain of custody of the loan was unclear and unfinished, likely due to the fact that the title company, servicer, and mortgage company that owned the loan all went bankrupt within the last 10 years.

I do agree with people it is easier to use transactional funding and double close.

This should be two transactions...

@Connor Swanson  Usually, with a subject to deal you can offer a higher amount than with a typical wholesale transaction. 

Order a title report, set up escrow, write out the details of how you want the transaction to go and have an attorney put together the paperwork.Another option is for you to buy the house for the amount owed with a carry back from him of the equity you want him to have.

I always tell people....I do more work for free than any other job out there, because we don't get paid unless there is a transaction that takes place.  

Id like to find a few different kinds of lists to stack, and cross reference.

yes …. you can do it that way you can do a participation note... secured or unsecured.. the main thing is to have a conversation with the first lender let them know our a principal in the transaction and if anything happens you have the right to cure and take over...