However there would probably also probably be times in there where lending standards would losen a bit to where you can more easily find 0-5% down financing (not in the next few years though).

If the second lienholder's information supports a high value, say in the $365,000 range, it won't easily accept much less than it is due..Perhaps the second lender thinks $335,000 is too great a deal for you.

Like I said, if the floor is sloped you can level it off pretty easily this way.

if your going with financing and a longer closing then you will have to show the bank your well qualified and pretty much play by their rules (their conditions, timeline, etc.) if they don't have any other offers or any cash offers (the bank i work with will take deep discounts for cash and fast closings (2 weeks or less)) you may make a higher offer but if the bank can get it off the books before the end of the month with a deep discounted cash offer then they will seriously look at it, even if they lose some money.

I'd like to wait till they lower the price but would like to not lose it.

And if that happens, does the mean the second have to bid at the auction or they lose everything?

It's tax time so I should be able to post them shortly.The costs of being a real estate agent are EASILY 2 good commissions on properties per year.I highly sugguest you think about the simple question we ask agents in my area that want to be part timers , or agents for that matter "Why would someone buy a house off you?"

You guys are right it's pretty dumb to get stressed out so easily over this.

.), which (depending on system ages) could easily be $1,500/month.Overall, at full asking price, $900K with 25% down ($225K), 30 yr. amortization at 5% will cost about $3200 /month in interest.

If it's the latter, you can easily do the same thing- there are lots of dirt cheap props now in Detroit- have at it!