Would the 1st have an incentive to accept less than the $162k since there is so much equity?

The problem with wholesaling is that the barrier of entry is so low, you can just wake up and say, hey I want to be a wholesale investor.

The world of real estate investing is so large there are many subsets within it.

I have a cabin at the lake that has that million dollar view and it's water front as well and I always say I'll take the million for it. but not likely, what someone is willing to pay for similar views and location is difficult to prove in the market since each property is so unique.

I used to count it when I was less experienced as an investor (not saying it is wrong...just that I changed) because it made my numbers look better.What I later found is that the tax system IS SO FREAKING COMPLICATED (forgive the outrage ;-)) that I couldn't model the thing very well.

Everyone above said it best...there is no reason not to list on the MLS when you resell...If any buyers have an issue with the fact that your spread is so large, remind them that you did a lot of rehab work and had a lot of holding costs -- many buyers see that you purchased for $50K and are reselling for $130K and assume you're making $80K.

Then they are still on the MLS after the auction so I'm not sure it is so much an auction to get rid of it as a marketing tool/scheme to see if they can get a price they like for the property.

That's why buying 'low' is so crucial.I've also let good tenants temporarily 'slide' on rents -- over $2000 one time -- and now they're all caught up.

Our society is so sue happy that we really need to protect ourselves and our assets.

Here's a different link for the articlehttp://www.inman.com/news/2010/08/11/lenders-lookout-short-sale-fraudI read it and agree with Scott - There is so much wrong with this article.