Heard a lot of you folks escaped the hurricane in that part of town.

(5 local banks have MOUs or C&Ds within the past month) I have been to EVERY bank in town.

For the seller, its a way to maintain some control vs. a subject to where you give up the deed.

If I were to purchase a property subject to existing financing, I am ultimately taking control of the title and the property while making loan payments that are still in the sellers name.

The resource you MUST have is the "know how" or education.You mentioned wholesaling, which is a very good starting strategy as you can "control" properties in a number of ways with very little $ (as little as $10), and no risk to your financial situation or credit.

It involves a great deal of know-how and work, not just signing some documents and then listing/re-listing the property.I hope there isn't a wave of wanna-be investor's cleaning out their life savings to go prospecting in an area of town they know nothing about.

The following are possible answers with some possible conditions:1.Out of town owner – unfamiliar with current market conditions2.Incompetent to negotiate – power of attorney3.Passed away/executor of estate – quick sale, legal authority4.Real estate broker or organized selling entity – it may be overpriced.5.Bank officer or foreclosure agency personnel dept. – lower your offer6.Sophisticated lease optioning reseller/investor – big bad wolf!

We were going to be out of town until Thursday, and besides, I need to get a buyer lined up.

That they had not known a time without remote controls for TVs, had never seen a "dial" telephone and had not seen the smoke rising over the Vatican.all cash

Turns out this couple has a 2100 square foot, 3, 1-1/2, 1 rancher in a nice part of town and the husband has just become a complete loser.