This will give them the security of knowing it is sold and the opportunity to make more money on the sale of it then just selling it to an investor.

The legal details are more or less the same.1st loan secured by either a mortgage or trust deed.Seller financing providing a second loan and secured by the property.I will let the mortgage brokers spell out the financing details (rates and terms).Be very careful with commercial.

In the case of Net Bank part of the problem was the bad loans secured against real estate.

I allowed a family to move in without a security deposit but they put in a fence in lieu of.

On there you can fill out a broker package to get signed up with the bank (ofcourse with a good reume you will be fine) so they will start listing REO's through your office!

Extending Jeff's points a bit.If you pool money with 1 person you can still be in violation of the security laws.

We even offered to put down a pet security deposit and even use a product called SoftPaws (a high density rubber cap that is applied to cats nails to prevent them from scratching things, perfectly safe and harmless, plus, its better than declawing!)

I worked extensively with a big time REI guy here in Tucson and was very hot and heavy to buy my first home but have decided to hold off while the values keep slipping in our area.I still have a very strong interest in securing some properties domestically in the next year or two, specifically income producing properties.Beyond that I am always open to any extra streams of income (legitimate ones) so hopefully I can find some info here on markets I may not have investigated yet.

The buyer would need to secure financing (hard money or traditional financing), have enough to cover the payments until it sells, they need to sell the home which might take a couple months or more, etc...

The market there is still very strong and we still hold Real Estate there even though we moved to America this year.We are now concentrating on flipping properties in Charlotte and buying REO's in Kansas City.We have a great HML in KC and we are negotiating a 22 package deal with him at present- no money down.