. - Presumptions.It says in part: "...All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved."

If you have the proper shut off valves and they are properly installed, there will be a bleed device for that purpose.You then have to put RV anti-freeze into the traps.Your safest bet is to have a plumber in to check things out.

@Jeff Lubeski That's good to know.Let me ask this, the place in question is Freddie Mac owned.

I was just advised of a multiple offer situation and was asked for my highest and best offer from Freddie Mac.I've read several accounts of how Freddie Mac allegedly operates (including one statement that they don't ask for highest best) and they all seem to conflict.I am fairly certain that my bid will be the highest on this one, but there are certain things that Freddie is doing that is causing me hangups.

With Fannie Mae/Freddie Mac, and the banks loaded with delinquent and vacant properties, the idea was to sell huge blocks of properties to institutional investors to be put out as rentals.

This property is eligible under the Freddie Mac First Look Initiative.They are asking $33,000 for it, and I can probably talk them down to $30,000 or less.

No Land Trust - sub2 combination, nothing.If you have a 1 year lease with a contract for option to purchase, with the option held in escrow, equitable interest is avoided.Finish the lease and get the option is the aim of the device.:)

To download the app, simply go to the Apple App Store on your i-device and search for "BiggerPockets" OR Go to our App Landing Page OR Click Here to be redirected to the download page on the Apple Store.Keep in mind - this is only version #1, a sort of "beta version" of the app.

The only restrictions were the loans could not be to an LLC and that loans 1-10 could be for any properties and loan 11-20 had to be for Fannie Mae or Fredie Mac foreclosure properties.

You don't like BAC and I don't like Wells Fargo, Indy Mac.