Foreclosures are no better.

Ideally I would like to snap up a few foreclosures while they’re cheap and help contribute to the area growth.I have been reading, listening to, and observing BiggerPockets for a while.

But I can tell you foreclosure laws there are vastly different than the US.

I know it's in pre- foreclosure but I'd like to help you save your credit and solve your problem by buying your house.

If they own the property free and clear and you pointed out $50k in repairs to drive the price down, offer $27k because that is your MOA but sell for $37k.yes there will be upset and feel as if you got over on them and make them feel like that is $10 more they could have made if they would have just waited and stuck to there guns.Now if they are facing foreclosure and have no choice but to sell because they do not have the capital to stay a float.

So the question is, if according to two different lenders and gov't guidelines, how is it possible to put 20% or 25% down on a shortsale, foreclosure or investment property with conventional financing on a home that needs fixing up, which all flips need done.

I am thinking of this title (but it sounds so "guru-like")"How To Raise All the Money You Need to Buy All the Foreclosures You Want (and not get in trouble with the SEC)"What do you think?

It is a foreclosure which needs quite a bit of repairs.

FYI: This is a Wells Fargo foreclosure he said they were accepting owner occupied now and next Wednesday they would accept investor bids so I wanted to move quick.Timeline of events:Friday: 5pm put in offer at list price as owner occupied, he said I might hear something that evening.Monday: I called him at the end of day because I had not heard anything, he said let me check the website,The bank asked for highest and best offer since there was another offer, so I raised my offer a bit.Tuesday: He called me and said the bank had accepted my offer as the highest and best offer but the closing date had to be within 45 days, he said no big deal, you got it i'll resubmit with a new closing date(this was never discussed not sure why he put the date out so far?)

We purchased a list of pre-foreclosures in a 5 mile radius which included a column that shows equity.