I will say that a couple of the small local banks I've spoken to at this point are willing to do a price paid for the home + verifiable rehab cost @ 85% loan.

If there in collections and living at home that’s not a good situation unless there are extenuating circumstances you can verify.

If you’ve already had the place inspected, and nothing was found, I would just ask for the name of the plumber that fixed it and call them o verify it’s been taken care of.I am curious as to why they even called you.

You Absolutely need to verify this and somehow document the 2001 loan is truly gone, for future refinancing and sale.

As an investor, I've been involved with deals utilizing assignable contracts but I concur with Patti that you should verify everything with an attorney whatever it is that you're trying to do.

It has to be regularly renewed by a doctor to verify the need still exists.

In our real estate business we track contract made per day, appointments set, and how many decision makers gave us a yes or no answer which verifies the accuracy of our contacts.

I'm not afraid to put in the time and work, but my concern is that all there will be available is the lowest of the low hanging fruit that's selling for 75 cents or more on the dollar (can't verify this, just my concerns and going by some of the responses on this thread).  

Providing proof of funds BEFORE accepting an offer verifies that.

We thought that by hiring a company that's verified on sites like HomeAdvisor that we were good.