A salesperson may own the firm but the business must be conducted through the salesperson's sponsoring broker.Q: I signed a Property Management Agreement and do not understand some of the terms.

Find a legal way to conduct your business.

Unfortunately I hear these cases all the time and it really gives us dedicated property managers a bad name.I suggest handling the property management yourself and I agree with Christopher to use a Realtor to lease your rental and screen applicants -- you should approve the final applicant and conduct a phone interview with the applicant  prior to entering into a lease agreement. 

The check is then taken to the Attorney or company that is the trustee conducting the sale they cash it pay their client ( IE the bank) and send you any overage back...

For conventional loans there is another issue now with HVCC (Home Valuation Code of Conduct) being passed as law.

From your original description it sound like you are talking about a tax sale which in some areas are conducted by the sheriff and often confused with the normal term of a sherriffs sale as far as a foreclosure goes.The only way to make 100k+ on one deal is to get a property for 100+ less than what it is worth.It is possible, yes, but as unlikely as finding an $1,000.00 on the ground which is legal tender.

And in this business it's not too hard to find the right people to use as a building block, and in the long run your not totally using them because they benefit as well as you do when they conduct business with you!

The fee is often nominal in lite of what you stand to profit when conducting business.You can of course go to the local courthouses, but that is costly due to how much time it takes to gather it.

Usually, the servicer is given the power of sale and appoints a new trustee under the deedof trust or mortgage to conduct the foreclosure sale.

Conducting the due dilligance may cost money when researching tax property, so be aware of that.