When you go to court the judge will see the seller wasn't disclosing a material fact and will show "willful intent" to cover it up.That will cook the sellers bacon.The contract lays out remedies for breach by either party.

Bring in a money partner who will fund the balance of the holding costs and rehab costs, and split the profits as agreeable to both parties.2.

Everything in the contract seems like a regular sale and it wasn't an REO.By law apparently both parties must first go to mediation.

A lead is nothing more than a hint that some sort of business might be possible, it isn't even a prospect where the targeted party has expressed an interest in a particular business transaction and a prospect  is not a customer or client until they agree to transact some business with you.

Although finding the property was a ton of work, the actual deal ended up being a win/win/win for all parties involved, and it was a nice profit for my efforts.About six years ago I started buying single-family homes as buy-and-hold investments.

Description of the issue: Had a property under contract for $215kFound a buyer willing to pay $230k ($15k would be paid to us as an assignment fee)Assignment agreement signed by all parties saying that at the time of closing $15k would be sent to usBuyer sent in $10k EMD and expected to close within a few daysBuyer then attempted to renegotiate the deal by asking for it at $205k, knowing that we had it under contract for $215k.

My understanding is that the sales proceeds need to be escrowed immediately upon sale by a disinterested party.  3 properties identified by legal description within 45 days...in writing.  

You're just tacking added costs on to the ultimate deal with the real cash buyer.And you can't double close to wholesaler, so would you have 2 contracts and 2 assignment agreements among 3 parties at closing?  

The mortgage company will foreclose on the property and your stake in the property means nothing.I would avoid this by going through a 3rd party to receive your payment, make the payment to the mortgage company, and send the balance to the seller. 

This only really works if you're getting some type of 3rd party financing.2.