They will check your current living situation through the underwriting process before you close....meaning, if you own a property now, if you plan on selling it or renting it (since you will be moving out to occupy your new property) they will ask for those documentation items.  

Bottom line: LOTS of complexity to work through, better to get good help if your serious about taking this process on yourself.Thanks, Scott Choppin

7)How does the hiring process work with a broker once I pass my exam?

Now I used to work as the Lender on some of the most highly structured, large balance CRE loans in the nation - and I remember one loan document that required the repair process to have begun within 10 days of the loss and repairs had to be fully completed one year prior to the maturity date.

I am in the process of creating an LLC and chomping at the bit to get things rolling.Right now, I am focused on learning the legal, business and strategy aspects of REI. 

(Let me know if you want to know all the fancy, interesting details on the process.)

So allow me to clarify.I mentioned two things; first one is it there's a property your interested that goes into multiple bids that is your listing and you want to bid also... then you should designate someone else to simply handle that listing during the bid process so no one can ever come back and say you did something unethical.

I was just wondering if anyone here has some good experience with this process.

If they come back with a counter offer then we start the negotiation process.  

It is important to know about but it is mainly a tool to assist banks in the foreclosure process in some of the more difficult states.