It seems that this boils down to who gets to choose which title company to use and what is the time that each deed is filed.

I would file a complaint with the Real Estate board in your city/cpunty.

The thing is that the notice is a requirement to actually file an eviction at court, but its worded like you have to get out in that amount of time or face a legal suit.

Lending standards are tightening.

However there would probably also probably be times in there where lending standards would losen a bit to where you can more easily find 0-5% down financing (not in the next few years though).

Where can i find info on land contracts availablein a metropolitan area,say Chicago and the upper midwest..Also how much of a downpayment is standard practice.

I'd file a greivance with the local board of realtors against the guy, if it happened to me.

I think pre-construction is VERY RISKY with the current real estate market; tightening of lending standards; and impending recession.I would not find a lender on-line or give my personal information to someone that I don't know online.

If the 1st files foreclosure, will the 2nd lose everything?

If you find one deal for every 100 properties you see (which seems to be a standard goal) then you need to see at least 100 properties.