If everything is completely disclosed up front (on the initial offer/contracts and not a later addendum threatening not to close after the fact unless you get money back), then it comes down to the lender's liability for allowing the transaction to occur.It's not mortgage fraud if the mortgage company is fully apprised of the situation and approved the loan with the contract in hand disclosing the terms of the money back, etc., with HUD reflecting the buyer receiving funds back...........As a rule of thumb if it's a strange transaction, don't do it!

The money changes hands and legal titles change hands which your lawyer will do for you.

But I really hate the thought of handing realtors 14k for what?

I have been reading everything I can get my hands on dealing with personal finances and investing, and am glad to have found this forum.

"Investors" in my area acted too fast last year and now some are having their butts handed to them, losing thousands a year because they can't get rent to cover their costs, and their places aren't selling.

I would love to get going as soon as possible but i just do not know how, so i am going to be reading books to try and learn the ropes.i greatly understand that learning first hand is like no other teaching i could have so i definately want to do this before college. i actually wanted tobuy an acre of commercial land now and put 10-20 self storage units on it, and run that while i was in college, just for the experience as long as i didnt lose money, atleast not a great amount. my dad however wont help me do this, and i dont know how to do it on my own.i am applying for my first credit card next weekend, so i can start building credit.

Therefore moving your money from your left hand to your right hand.

I'm hoping to be able to make my decision within the next couple months, but unfortunately it's kind of out of my hands at the moment.Anyhow, glad to be here and can't wait to learn the ropes from all of you!

I saw some real investment opportunity in Scandinavian Real estate and am trying my hand at that.

Then I hand them a form to fill out with all the info that is important to me.After doing this saturday and sunday, my wife and I vote on our candidates.