Live and learn.....in the future I will use back taxes etc. as more of a negotiating tactic .I did just hear last week that the offer looked good, and it was sent on to their negotiator for further review.I must have really influenced the BPO already.

I guess its a little bit of a discredit towards RE agents but thats due to past experiences with a majority of agents here in NYC.

We won the bid at $67,500 and are looking to put in 10k-12k into it (nothing major wrong with structure).

Minna,All of the major institutions I have dealt with have a clause somewhere in there 4 to 10 page purchase addendum - that prohibits assignment. addendums are binding and it pays to read all that mundane legalese - you'll probably find a single sentence or two in there, somewhere!

I guess I have two conflicting opinions on what is happening in this industry:First, having worked with many small business owners over the years, it's my opinion that the vast majority of the small businesses that fail, do so because of a lack of business/marketing planning.

Another book I would recommend is Building Wealth One House at a Time by John Schuab.Both books can easily be found on Amazon and likely major bookstores.

Seems as thought the vast majority of foreclosures relate to SFHs.Thanks!

major renovation Good condition?

Putting $40K into it is a major commitment and likely a sign that this is not a great deal (repairs are high relative to the purchase price).

I would really not like chasing a specific deal for 4 months and then get a major surprise at the closing table.Greg