Call a local title company and do a title search- this is the only way to get real and accurate data.So, do you want to own this property or just control it?

Remember you don't have to own a property to control it.

I agree that an agent should know all this.To answer your question, if the mortgage balance exceeds the sale price, it's a short sale and the bank is going to control the sale process.  

Oh I apologize, I didn't see the other response or your answer to it so disregard my first reply. so if I understand this correctly then you are wanting  to take control of a home in default by making an offer to buy it subject to the existing mortgage and then you want to assign it as LO and you will use the option deposit form the TB  to bring the mortgage current and pay yourself too right?

The controlled property/rental management in Seabrook seems very unique.  

(Fair disclaimer, we are a distributor for CWP, Wood Harbor, Wellborn, and Wolf cabinets)The advantage to a big, established player (like any of the above) come to things like -* Quality of finish (Paint in a controlled shop is way different than paint at some guy's uncontrolled shop)* Warranty* Quality control of doors and boxes* Quality of construction* Service and Logistics* Quality of hardwareWhen you're talking about local manufacturers, they're oftentimes not building in an environmentally controlled environment.

I find that a lot of house flippers miss out on controlling the contracts with their contractors. 

Yes, if you buy the note you have more control. 

I have had an IRA with Fidelity Investments for probably 35 years and given the controlled environment, it is almost impossible to break a rule.  

I don't like condos for some of the same reasons you've probably heard, mainly the lack of control and added expense of the HOA.