A properly discharged mortgage debt relieves the borrower of deficiency but does not 'cancel' or remove the mortgage from the property.

However, such a small price, your loan amount may be below a bank's minimum loan amount, so better call and ensure you can get the money before you contract, and/or make your contract subject to financing with your down payment.If this is a rental, you might ask the seller to finance this, since the loan amount might be hard to finance conventionally, that means he may need to finance or wait for a cash buyer.

At the same time, I don't know anything about structuring a deal or landlording or any of that- I was thinking it would be better to split the profits with a mentor and learn the proper way of doing things along the way.I did buy the books to get a real estate license here in California through firsttuesday.us, and will be studying for the sales license exam.

From my perspective, it's not just about ensuring that you are legally allowed to invest and that you are able to proper publicly recorded title to a property, it's also about all of the other laws indirectly related to owning the property (ie. the court system, environmental laws, tenant/landlord laws, business laws, etc, etc).

In many cases, the transaction goes more smoothly.More importantly, I would make sure that I am fully represented by my agent as a client (signing the buyer representation agreement), which ensures that he/she has a legal duty to keep your discussions confidential.Congrats on the offer!

Need to submit the proper paper work to the HOA, but they wont answer me to make sure I have the required documents and requests when I go to submit.

Policy is set and enforced to ensure a safe and secure banking system for the benefit of our economy.

You will get reasonable good input if you approach the subject properly.

IMO, she reneged on her responsibility to ensure collection of all funds for the transaction.

The inspector will then come back and ensure the lead paint is gone.