It has been my experience that most lenders will allow reinstatement during the entire process.State 5:The Auction: This is the final day when the borrower can regain control of the dwelling by paying to the trustee the amount owed to the lender just prior to the trustee calling an auction and requesting bids from the buyers at the auction.Stage 6:Obtaining possession of the property.

Even if you buy the property with no cash out of pocket, you'll need cash to carry you though down times.As far as buying with nothing down, you could get the seller to give you 100% financing.Buy it with a lease option where you pay only a small option fee.Lease it with a master lease, which gives you possession, but not ownership.

Buyer may, at his expense, have inspections made of said items by licensed persons dealing in the repair and maintenance thereof, and shall report in writing to Seller such items as found not in working condition prior to taking possession thereof, or six days prior to closing, whichever is first.

Buyer may, at his expense, have inspections made of said items by licensed persons dealing in the repair and maintenance thereof, and shall report in writing to Seller such items as found not in working condition prior to taking possession thereof, or six days prior to closing, whichever is first.

Which is how this type of deal goes down, the seller is agreeing to allow you to take possession of their property and pay their existing mortgage payments.

It is ethically wrong to be wholesaler while possessing a real estate license.

Then sell it on a contract or lease option with the proviso that the title isn't clear, or rent until you can get it through probate or can acquire clear title through a quiet title action (typically your state's time period to effect adverse possession).

Next ideal is a tenant willing to take possession on the 2nd or 3rd if the previous tenant stays all the way.

If delinquent tenant doesn't show up, I get immediate possession, if they do show up, I get 10 day possession.

They might need to sign the proper paperwork depending on your state with the cash for keys agreement just stating that you are taking possession.