Loans are typically referred to us by those holding a note that is not performing.

do they perform random checks or have a systematic means in finding out?

The appraisal must be performed not less than 60 days prior to closing (not stale), but not later than the due date of your next IRS return, usually April 15 of the following year.

Have performance clauses in your contract that give you the power to foreclose on the property owner if the investor isn't making the payments correctly.

Forfeiting the earnest money is the usually remedy if you don't perform on the contract.

I have been in the sport nutrition business for 7 years and want a change.

FYI There are more Non-Performing 1st TD Commercial Notes then I see REO's.

To alleviate your fear, use a Purchase and Sales Agreement that states that your earnest money is full liquidated damages if you the buyer do not perform.

“A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release which if known by him must have materially affected his settlement with the debtor.”They also sign this.DEFAULT BY BUYER: In the event Buyer should fail to consummate the transaction contemplated herein for any reason, except default by Seller or the failure of Seller to satisfy any of the conditions to Buyer's obligations, as set forth herein, Seller shall be entitled to retain the earnest money deposit, such sum being agreed upon as liquidated damages for the failure of Buyer to perform the duties and obligations imposed upon it by the terms and provisions of this Agreement and because of the difficulty, inconvenience and uncertainty of ascertaining actual damages, and no other damages, rights or remedies shall in any case be collectible, enforceable or available to Seller other than as provided in this Section, and Seller agrees to accept and take said deposit as Seller's total damages and relief hereunder in such event.

Bill, if you are performing business travel, which would need to be far enough to require a sleep over, then eating a meal alone is a deductible travel expense.