Then when I asked him to send me the 35R to sign and make it formal, he said they wouldn't take a discount.As a result I told him to cancel the deal then, marking the response/inspection as unsatisfactory.

We are looking to have a formal conversation with an acting real estate attorney so that we can ask our list of questions and gain some of their knowledge base.

This is a great little area ,it’s got a lot going for it as mentioned above plus they have started work on the $500 million judicial Centre ,a little east of here towards twin aire and if you’re feeling brave and have good risk tolerance and cash you could look at streets north and south of English near Twin Aire .Good potential there ,it will take time though 

My wife and I have are relatively new to RE investing, and are formally saying hello the BP community.

Check back with me in 30 days and I should have a formal proposal .Side note - I have read on BP and am also finding locally credit unions are a good source for investors.Best wishesChris

I flip distressed properties in CA and envoked the right of redemption on an HOA Foreclosure in the past.FL Is a judicial foreclosure state so if the previous home owner is able to redeem the property through the courts within the 10 day period, you would be due a refund for whatever you paid to acquire the property.Im my case when I paid then redemption amount, the investor was refunded their capital.

They just recorded the deed last week and it was a judicial sale deed that was executed in early May.

For judicial tax sales, they also need to start a legal action.

I have always done an informal pre-screen,  talked to people in person and then a formal background check before renting to get a good feel for them and am not fully comfortable renting sight unseen - however I don't want to turn down someone that passes a background check and seems to be a good fit. 

If it is something that is going to resolve itself quickly and it was a good offer it may be worth waiting.If the contract specifies a loan approval contingency date and they are not able to produce a formal loan approval from a lender by that date the contract should also be null and void.