The inspectors down here make your life miserable, when they walk through your door they look for anything they can get you on regardless of what they came for.

Are there other details like this that we have failed to address?

If you decide to not send in the EMD within the 48 hr period after winning the bid (presumably due to finding issues based on more detailed inspection), do you remain eligible to bid on the house after the price drops further?

Google that phrase for details.

Once you meet them you can go over the details.

If you give exact details we can give you a better answer.

A letter basically offering to make everyone's life easier when splitting an estate by offering a quick close, no contingency offer to buy the property involved in the probate proceedings.You can buy probate lists, or you can find details on your local city's website of the probate proceedings in your city.

Edited: Wrong thread.Your numbers look right, but nothing beats having a detailed log of expenses as ownership goes forward.

Don't over think the calculations, but don't miss any details either.Scott W, all those incidentals you listed to be covered by the remaining 3% are covered in the 50% "rule", so is PM fee.

Josh I have talked about this many times.On the residential side all these scammers used to exist.Sell the loan off so they didn't care and closed up shop when it fell apart.Now that residential is under huge government regs they have all moved to the commercial side.All of these people advertising many are just helpless point and fee takers getting sucked up into the scam.Many of these so called lenders are not lenders at all but mills running due diligence fees,insurance fees,deposit fees etc. and then say they can't fund later on to deny the deal.I have found direct lenders are very hard to find and I find one of those for every 20 scammers.As a buyer you do not pay upfront fees except for appraisal,survey etc.You can talk to these scammers on the phone and can tell by what they say they are not a true lender.I do very heavy lifting to make sure my lenders are real and I am not dealing with a middle man to protect my clients buying properties through me.Any company claiming to be a lender that will fund anything is more of a conduit (middle man) taking fees.A reputable lender will display recent closings and details of the loan.They will have very detailed rate sheets along with terms and conditions of the program.Any points will only be paid at closing when they perform.Many of these lenders will be highly specialized in a particular asset class and not broad in scope.The interest rates from legit lenders will be very close in percentage rate and LTV's.The difference being in how much money they have to lend and what loan size they specialize in and recourse versus non-recourse etc.Many lenders can promise but very few can deliver on the rates promised and close it.