You would have to exercise your option and immediately sell the underlying property (of which by exercising your option you have just obtained ownership of) to complete the transaction.The owner of the property would have to sign a warranty deed transferring title to you.

How are you determining which homes are on foreclosed status?

My husband and I are about to make an offer on a second investment property (our first in Florida) and we requested insurance quotes to help us determine the numbers.

You have access to comps and can determine your offer price.

In my mind, if you offer, see the house, determine you need a $50k discount, that may be a hard push rather than see the house and offer the lower figure to start.Then again I am not a wholesaler, nor have I studied the intricacies of wholesaling.Andrew

1) offer2) acceptance3) considerationA legal & enforceable agreement to transfer ownership .

I want to systemize the auto reply and have a V.A. do that maybe, to determine motivation..cheers

Nope, the market determines what that item is worth.This is simple economics, the market will tell you what it is worth.

The amount of any downpayment required is determined by the lender's underwriting rules, and they may vary from lender to lender.

Start talking with small local banks to determine what kind of structures they'll lend on.