Four years experience as a management professional with the capability of directing an effective operation through the application of experience in policy determination, planning, organizing, administration, and staff development.

I provide these extra comments.In PA it is actually handled by the Sheriff (technically, by his office staff).I have not seen a lender do as Wheatie suggests above, but the effect is the same.

There are a fair amount of REOs on the market and some are selling (our local paper lists the transactions and one week the "sellers" of 32 of the transactions were lending institutions).

In Nevada it was an exempt transaction and not subject to tax. 8)

You can just forget doing an assignment at all, unless your buyer is using Hard Money or Cashola.If you are doing a double closing, FHA will not work at all, as they require at least 90 if not 180 days title seasoning depending on a few factors. if you are trying to pull off a double closing, the best bet is to get a cool title company, a transactional funding lender, and a Fannie Mae qualified buyer.

Effectively, he won the auction for $30K, and he (the auction winner) paid himself (the lienholder) the $30K.

As a licensee you are REQUIRED to disclose that in all RE transactions you are a part of.

I can appreciate the effects of visual deterrence.

Effectively nothing after you pay off the loan.

Is there another buying strategie Wheatie that would make those types of transactions a deal?