The offer was made as been financed and a preapproval letter was sent with the offer, according to the employee I spoke to at hud this was a new regulation they just put into effect, that was why they gave me back my emd, once they know it is a hard money lender they will be requiring the xyz hard money lender to provide a bank statement showing that there is enough fund to close the said deal or a letter on the banks letter head stating that xyz hard money lender has enough fund to close the said deal, so before any body makes an offer on a hud property be sure to be able to provide these docs.

Troy:Excuse the assumptions; but, I would suggest that if the bank has possession, there may be a receiver in place, or the parties have agreed to the bank taking "control.".

So i am in the military and receive roughly 1400/month just for housing and where i stay now they take it all so i don't see that extra money.I was wondering if it would be a good idea to buy a manufactured home for say 40k and pocket the rest of the money left over from the mortgage for a year and a half until i leave the area.My concern is selling / renting out the manufactured home, do they sell or is it usually easy to find tenants ?

Contract states that due diligence does not begin until I have given my written notification that I have received all requested documents.During due diligence I request the following documentation:P&L Statements.Seller's Tax Returns and Bank DepositsLease agreements and rental receiptsCopy of current management contract and payroll registerCopy of insurance policyCopies of service and advertisement contracts (Trash, Water, Util, etc)Confirm any existing liens.WHAT IS THE BEST WAY TO GET TAX RATES, SINCE THEY MAY CHANGE AFTER THE SALE?

But I usually cross-check them with the local mls website, as that seems to be the most up-to-date.The best move I made was having my Realtor set me up to receive emails any time a multi-family is listed or changed and any time a single-family under $40,000 is listed or changed.

I have received mixed feedback from numerous real estate agents about that.

The help I have received here in just a couple of days makes me happy to have found it.

For Fannie financed offers, I've had a similar experience - even for properties sitting for months, I've immediately received "highest and best request" within a few hours, indicating "multiple offer situation".

Compensation is pre-set so the borrower receives savings benefit not the LO the very reason for the 2010 ruling.

I have received a wealth of information and assistance from fellow members.See you around the site!