At first they said an oil sheen on the water, but now they're saying no oil leaked.

Most of these REO's will not be assigned, but more in the nature of a double close/simu close.

While natural optimism is a good thing, the reality is that many contingency offers fall thru before closing.

the b to c deal you need to fully disclose the nature of the transaction to the end buyer, "Purchaser understand that he/she is purchasing a short sale from an investor who is conducting a short sale currently with the OR of the property.

The reason is that by their nature, these deals often are put together quickly and I don't have time to go through the IRA paperwork/waiting period.I tell me borrowers all the time, give me a few days notice!

INDEMNIFICATION: OWNER shall not be liable for any damage or injury of or to the RESIDENT, RESIDENT's family, guests, invitees, agents or employees or to any person entering the Premises or the building of which the Premises are a part or to goods or equipment, or in the structure or equipment of the structure of which the Premises are a part, and RESIDENT hereby agrees to indemnify, defend and hold OWNER harmless from any and all claims or assertions of every kind and nature.

The public records should show his past history of purchases, and you would expect his future purchases to be similar in size and their nature (commercial, industrial, residential - whatever) to those past purchases.

There's not much you can do if you're not on the board or if there's not something specific in the docs that prohibit something of that nature.

How they managed to get the electric back into our name without us getting the bill is beyond me.Being a rental owner sure exposes you to the devious nature of some tenants.Hang in there.

For successful back to back short sale closings, you really need to have a knowledgable, well-oiled team in place.