They were back on their feet again though it sounded like.I'm still going to try this approach though, I have to just remind myself that it will be a win win situation if we can work something out.

Can walk to brand new transit station, or drive (1/2 mile) and park there and take the train.Nice interior design.

I like your approach.

It is merely another way to approach sellers without appearing to be low balling them.If they should give you a bottom line "out the door" number, then I would write the contract and put in the "provisions" that the deal is contingent upon the payoff amount and the seller must net X amount in the end (the number they said) after all fee's etc. have been paid at closing."

I'm skeptical, but that's because I don't want to get burned, plus when it comes to money I'm just really cautious regardless of the amount.One more general question (for now) - if I do approach a bank to purchase a home that has been foreclosed, will I have much success making an offer that matches the principle remaining, or do I need to make an offer somewhere between the estimated (appraised) value and the principle that remained on the loan?

Just wasn't sure how to approach.

We initially approached the sellers with carrying the note, but absolutely no interest there.

Now I am wondering how to approach this deal (and the Realtor) with an offer in which we can assign the contract or if I should just cut my losses and pass the lead off to an investor.Any thoughts/ideas are greatly appreciated.

In the mean time, a large developer has approached us to purchase the land.

Then you can either pursue the property at foreclosure sale - if the numbers pan out and you have the cash - or approach the owner with a proposal.