Laymen tend to believe that they can finesse that by simply not calling themselves brokers.

if not - simply low ball the crap out of it - say 210k, put a few contingencies in there and move on.

If you can do that, you will get the deal and you both win.

entering into an agency (agreement) with real estate broker that involves you as a buyer simply means that the broker is working on your behalf - meaning - you're the client and the sellers are customers.a broker or a sales agent that you enter into a buyers agency with simply give the broker of record an exclusive right to help you - you can't go off and close on real estate without them - for you, this type of arrangement is good because you have the piece of mind that the broker/agent works for you (you hope - even with agency sometimes agents get mixed up with this because it's the little things that make or break agency).as far as using an agent - they might be able to run comps for you, let you know certain things about a given area pertaining to rents, values, general info about the locale that may help you find the best for YOUR money.know this about co-ops - you're not buying real estate - you're buying shares and in return you obtain a proprietary lease to a unit which is owned by the corp.

Just an FYI.One other thing to consider for a property in preforeclosure.If a bank is wanting a property back or they are simply back-logged, it's not that uncommon for a lender to "stall" in getting you a payoff.

Disbursing vital information to homeowners in jeopardy of losing their homes is a noble effort, as long as the information isn't simply a disguised solicitation for business.

She may or may not win anything but because she was not mentioned she may be able to cloud the title after you bought it.

actually, i think the tightnening of conventional loans is going to create a large market for owner-financing selling. i just want to get some profit out up front. i'm thinking of selling either using a land trust(which i would have to refi first), or creating a first and selling it to a note funding company. i would have to discount, i know, but depending on what i net, at least i'll hopefully be able to take out most of my profit and move on.i think i have a better chance of moving if i give up a little of my profit. sometimes win/win works.jim

If you take the property on a lease-option and then simply rent it until you actually buy it, that is a LOT safer.Mike

at 80%LTV of ARV, and they get the property for themselves with 20% equity.since i will be an LLC, this could be a good exit plan, as it is hard to get loans as an LLC. plus i can make a little and move on to the next deal. with the partner getting the remaining equity it could be a win/win situation.just a thought that will need refining, but i think it could work.jim