To add clarity to my previous post ,I was not Saying violate the contract with the realtor they still get paid their commission , but, ultimately the decision of how low the price will go is up to the Bank to approve.

All4Investors,I believe the reason is that real estate investing is a fad - like day-trading stocks, MLM, trading tulips, etc.

If your parents are exchanging then they need to purchase replacement property that is going to be held for use in trade or business.

Note that this deal was my most profitable ever but it was luck more than planning.If the location is really good, if the unit you are buying is a prime unit, if you are well positioned to complete on you side of the deal and if the developer is solid then make a decision and move forward.

If you lack trade lines (number of open accounts and hopefully ones in good standing) then having a few more accounts will work.

Subscibe to the trade journals of whichever one you're interested in, visit their trade shows, talk to owner operators.

If so, there are three requirements that you must meet.Trading Equal or Up in ValueYou must 1031 exchange (trade) equal or up in value based on your net sales price.

The costs of those bad decisions and 'irrational exuberance' are now coming due.The people who are losing their homes were duped and/or they didn't do their due diligance.

We've got the trade deficit, budget deficit, negative savings rate and record setting debt.

It's a trade off and only you can determine (with the help of a good lending rep) what will work for you.