Be careful of doing anything that would fall under "self help eviction practices".

Sorry it took so long to get you properly welcomed - sometimes posts fall through the feed too quickly and get lost.

I don't feel that it died last fall.

Would be nearly impossible to coordinate the sale of our property with the purchase of 5 different properties and not have any fall through and close on everything within 6 months.

I negotiated with the Realtor to have them pay me $1k assignment fee and $1k down(they would pay 2k cash deposit either).The Deal did fall apart but the point of the story is that I learned that MLS properties could be sold and to retail buyers as long as the lender is not having to pay for the assignment fee.p.s. the deal fell aprt because the Broker was upset that they would be making a commission on $58k instead of $59k(yes for $1k)then the sellers fell out and the one i was dealing with quit claimed the deed over and got bought out by his partner.

The option price paid is for the right to buy, but not the obligation to buy.Steve, you really need to start over before you hit the streets trying to do deals, start with the basics of RE not systems or strategies, you need to understand basic rights conveyed under different standard types of agreements, then the strategies will fall in place. :)

If it's something that looks bad (insulation falling down, etc) and that an inspector would make an issue out of, then it might be worth attending to for the sake of resale value.Why did you seal, dehumidify the crawlspace and add the sump pump?

At this point, the purchase is contingent upon a financing, acceptable inspection, and the city allowing us to excavate beside the driveway to create at least one addition parking spot as one of the main down falls is that it is a shared garage (with dividing wall) and driveway.That said, we have a purchase price of $38,500 locked in so long as everything goes as planned.

If a roofer falls off the roof you do not what him/her coming after your home or even visitation rights to your sea snail.I would also recommend writing a solid business plan as one poor decision in the beginning can really mess things up.I look forward to meeting you both at the inevitable PNW Meet-up.

I'd say a deal like this should have 10% of the sale price as the down payment and the front-end loaded note can be made so that is attained and then fall into the remaining amortized period.Sell the property for what it's worth, 8% is sufficient consideration, use the amortized period to provide you wanted monthly income, you could require a higher payment to principal to increase the down payment over time as long as they can really afford it, and affording should be determined by debt-income ratios not by an opinion, especially with any inclination of getting in their pocket from any personal issue.Good luck on your getting your RE license, as you go through that process you'll see the ethical aspects of dealing in RE and what I've said here will become clearer. :)