@Mike Ware damn, an $8K assignment on a $15K property - in that area?

What they "paid" (their bid price at the auction) for it is an irrelevant number, just the outstanding mortgage amount owed at the time of the auction (probably 2-3 times that amount).

Outstanding post.  

I don't know that I've read anything damning against the agent so I'm curious what your reasoning is for advising the OP not to use him.

The response was "Damned environmentalists won't let us do that anymore.2) You can't rent a back hoe to do the job yourself. 

Outstanding work!!

I appreciate all of your input, this is an outstanding forum!

HI Mark,These items are normal not just in a conventional loan scenario but also in any other financing or legal transaction.The closing agent or attorney probably wanted to know that your entity was 1) actually filed, 2) its still currently active with no outstanding judgments, liens, or UCC filings against any assets within that entity, 3) that you are actually a member of the entity and have the authorization to make that legal decision.I usually provide articles of organization, cert of good standing from sec of state, and operating agreement if LLC or Bylaws if Scorp/Ccorp.There is a statement of information form that is used to verify this with the state so the closing agent can make sure youre infact providing accurate documents.

@Anson Young Motivating, inspirational, outstanding video man!

About four years ago I noticed the neighborhood rents were going up rapidly and the credit of my tenants was outstanding (6-figure incomes and flawless credit).