I'll get in touch with the bank tomorrow to move this along....but you're probably correct in your assessment that this deal isn't going anywhere.

Mike, Some of what you say is correct.

If our memory serves us correctly, our income-to-debt ratio didn't qualify us to make the standard 30-yr pymt, but we could make the interest only or the minimum pymt.

Texas is very strict with their executory contract laws (that's any contract to purchase without immediate transfer of title, which includes lease options and contract for deeds).If you don't do them correctly you can be liable for up to $250 PER DAY from the day of execution of the contract.

Comment was made during a segment on the coming second wave of mortgage defaults.

Just trying to make sure I understand this correctly, As an agent, will I have to include my Brokerage info in my own contract when submitting offers (properties I want to buy)?

(B) Licensed contractors or material suppliers to correct the violation of any statute, ordinance, or regulation relating to the habitability of the premises

Hi Mark,Changing buyers can be a violation of the approval letter if it specifically states who must close the transaction.We had a situation where we tried that and the lender made us get a new approval letter...delayed us a month..but we ended up getting the new letter and closed it eventually.In your situation you have an approved short sale and now your end buyers lender is requiring you to be on title for 90 days correct?

I want to list a property held by an asset manager but unsure of the correct wording of the listing agreement and potential sales contract.

Make sure you are operating on the correct side of the fence.