There may be some creative loopholes available to you, but you will need to get that accountant or lawyer to explain.

Charles if you post to this I am talking about a situation where i am not auctioning, by the way do you auction off everything, i always think about it when their is a high end property but what if there is a motivasted seller home worth 150 wants 115 just do a absolut low bid or start at 120,000 and go up from there, how do you explain to these people.

I'm sure that was a fluke :yahoo: So I explain to the selling agent, the only way to handle these is to do short sales.

Your seller should have a reinstatement letter from his/her mortgage company or their attorney. this letter explains what the seller owe's and how much the seller needs to bring her mortgage current.

Normally I would say play nice and explain the BENEFITS that your repairs would make, but if your tenant is reciting CA code (accurate or not) then they are way beyond this.

For many home owners, how this third option works was either never explained to them or they chose to ignore it.

He also explains what they will not do or what some of the issues are.A useful read before spending time with a lawyer when the clock is ticking.John Corey

This video explains exactly what happened with those two properties: http://www.youtube.com/watch?

holding seller's second mortgage? i have offered 100% financing with a 650 credit score but the buyer has asked would I "hold a seller's second mortgage."

is it necessary to inform seller you will be assigningcontract, and if so does anyone have a diplomatic way to explain.