If they put up earnest money (which I would recommend not doing or putting down a minimal amount) then you would get it back IF you specified that in your contract (which I would recommend specifying it that way if you do put up earnest money).

Take $3k for the 2nd, 6% for commissions, and minimal closing costs, and you're passing their "max".

You should also pay down the mortgage at least a year before sale to minimize any potential taxes.

If it's more than just a minimal job, then I'd move on to the next contractor.

Hello,Well I wanted to try to minimize our (my brother and I) situation in the subject area.

My point was not about avoiding risk but minimizing it.

His accomplishment in attaining the Presidency of the United States by a winning the poular election and becoming the first black president cannot be minimized, yet with the exception of his speech to the NAACP, where he proclaimed that "Having a Black President means there are no more excuses," he has repeatedly downplayed and not addressed issues of race with the exeption of totally screwing up the Professor Gates debacle.IMO, he has the greatest opportunity ever, without a single tax and spend dollar, to realize MLK's ""I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin, but by the content of their character."

But this (bulk REO) is one area where the available information is minimal.

But it is going to take some time to get them because they want to see some transaction history to get comfortable with my ability to do it successfully.I need to clarify that this loan from a relative is actually not something where I am trying to minimize my costs.

Even still understand the risks involved by thoroughly doing your homework regarding every aspect of the deal, as you'll want to minimize the risk as much as possible (and there's ALWAYS risk in any investment).