I would add into my calculations what it will take to get this property into proper shape.

Now it is an REO property being sold by a local real estate agency.Because we were REALLY excited about possibly getting the house we always wanted, we got a buyers agent and we put in an offer at the full asking price, but just asked that we be able to have utilities turned on (the house had been abandoned) so we could get a proper inspection for financing. 1.

If the foreclosing lender gives proper notification to the IRS (I think it has to be 90 days before the foreclosure), then the IRS tax lien will fall off but the IRS has 180 days to redeem it from you (buy it back from you).

You have to pay the balance at these Sherrif Sales anyways...Well, time to hit the streets, have a great day

As a courtesy, please read this message, fund criteria, and Client requirements thoroughly before contacting us, especially regarding the Compensatory Balance.

And then just find sellers that are willing to carry second mortgages in large enough amounts to cover the balance. ie: 85% first and 15% or more second (vendor take back).

My credit is great (except for a balance I'm carrying on my CC) so I'm just working on that income bit.

250 ARV by comps in the area. one of my questions is do you ad the 185 loan balance to the reinstatement fees. i would assume that the bank still wants it's money. trying to calculate the cost of buying the property.

Has she given proper notice according to the terms of the lease and your state laws?

Otherwise, you wind up increasing the price you have to pay for the replacement property to balance out the values, right?