The banks response was only to come down a percentage or two off of the asking price.Interestingly though, one of the banks came back to us in January and offered enough of a discount to take the deal.

Well the way involved was just trying to take some action and see if i could get a good discount on a short sale and maybe flip to another investor if the numbers were right......Thanks for the advice i also think the realtor was trying to use me as the middle man to prolong the foreclosure too!!!

Some get squirrely with that strategy.Why is it being sold at a 30% discount to FMV?

Bidding as foreclosure sale can give biggest discount, but since title insurance is unavailable and thorough inspection of property not possible, much greater risk is assumed.Being new, I would use a Realtor, get a long enough due diligence period, and possibly purchase consultation time with a real estate consultant - (not a guru).

All this talk about multiple offers shows a market that could be underway towards increasing prices.My condo complex has 340 units and we have had values cut in half with properties just sitting for long periods, no action.Just noticed, everything except 2 units have sold, at huge discounts mind you, but sold nonetheless.Condos are the firt to crash and the last to comeback.

The more likely you are able to deliver on this PROMISE of SERVICE the more likely they will want to sell YOU their house (at a discount, of course).

I have been searching for discount sources for this.

The question is people that are predators usually do not have a nickel to their name and want to use an attorney on a pro bono (free until money is won) basis.The attorney will not take the free case and allocate their time if they believe they cannot get the insurance company to pay some money to go away or they will lose in court with a weak case.If you have someone that already has a bunch of money and is not thinking straight of course many attorneys will take their money and file knowing their client cannot win.So suing,winning damages in court,and COLLECTING MONEY from those damages are 3 totally separate things.What court does is suck away time and money and takes away from your productivity in business.You would want an LLC or otherwise just for an extra layer of protection and for tax purposes and business write offs.Your brokerage E and O you would need to look up maximum coverage,deductible,and exclusions in the policy.No legal advice

That way a bad appraisal at sale time won't screw the deal, and there's room to take a discount on the note to get cash.

You just have to realize that you're going to have to give a discount for a cash buyer and another discount for taking them all in a bundle.