Always be prepared for one of "those" calls that you dread, they will come.  

If that is what the market holds, yes but, if the market in the area is 90 days, and the REO stigma is minimal, denying a short sale at a 20% discount, taking the property into REO and preparing it for open market.

It depends on the market, if nobody is prepared to buy cash, and the bank needs the money, a rehab purchase loan could be acceptable to the bank, they just don't want to waste their time, in escrow to find out the buyer can't get financing.

But preparing comps is time consuming if done properly.A letter of intent is a good way to make a lowball offer yourself as has been stated.

You will prepare yourself to death if you never budge.

They have a lot of equity and so it could make sense for them to take out a line of credit it they wanted to...they were preparing to refinance (payments smaller) however there is no need to pay closing costs twice if they are ready to move within the next 6 months to a year.

Originally posted by "swgprop":… your lender has to be willing to accept a deed in lieu of foreclosure… … you can't simply mail it to them or record it…Yes, they do need to be willing to accept it… The reason they would not accept it is if they felt they could get money out of you… Or, if there were other liens they would need to foreclosure off to clear up the title… And technically, you could just prepare a deed, record it, and mail it to them… It does not take the person that is receiving the deed to sign anything in order for title to be transferred… Hummm… Interesting, wonder how many times this has been done?

It can definitely be done, but it's also a lot of work preparing the research for all of the properties.

He will have a lot of paperwork to submit that needs to prepare.

I'm preparing for the tax sales in my off time right now.