Marie says above is true: Bad things can happen to your interest in the property if the seller hits financial problems.The way the sale would work is you'd arrange a closing at at title company or an attorney's office.

Also I heard that if you go to several banks your credit score is pulled several times and your FICO could decrease is this true?

He is putting up a large chunk of money, true, so find out what kind of return he is looking for and then see how you can help him get there.

@ Rob K - true story: there's a town near me in a similar situation, except they took it 1 step further.

If you have a Chase business account, get a deposit only ATM card which can be used at any Chase ATMs to make the deposit.

I will admit I guilty of justifying the deal in my head even when it didn't make true sense on paper.

This is one of the biggest threats to a true recovery.

If you are looking to purchase a home for $20k, it is true that you are going to have trouble getting conventional financing.

I then just pull out all the people who's mailing address is in a different state then the property address is.This might not be true in your state though, but worth a look.

Kyle J.That is true, you need to weigh the total picture through the eyes of the owner.