Account Closed  . . . usually in the Title Co's escrow account - and released, with all other funding, to the interested parties when the transactions are finalized.

Test the electrical, hvac etc and other things that you can, make assumptions on the plumbing and go back to them with your repair list and demand a price reduction or release from the contract with earnest money refunded.Don't waste their time with the small stuff like broken fixture, stove, nasty carpet.  

::Math End::3) Terms are usually between 9-12mths4) Interest Rates are usually between 9-16% and depend on the overall asset and related risk assessment5) Points usually range between 2-6% and again depend on the overall asset and related risk assessment6) Attorney to prepare related lending documents (Note, Mortgage, etc.)7) All properties should be Non-Owner Occupied only8) Your documents should contain verbiage related to extensions, defaults, escrows and so forth9) On a rehab project, you typically want to have an Escrow Account for the rehab funds which are released in proportion to the work completed which is verified through Draw Inspections.

It will come up in a title search, like you mentioned, but you can also file a release.  

:)My issue with seller contributions is that when the pain is released that you get a lease to own  tenant in there and the sellers think they're overly entitled, that they don't have to contribute anymore, so I worry about the seller contribution deal falling apart on the poor tenant buyer.I might say to the seller something like, "Now Mr. seller my reputation in the community is very strong because I help seller sell on terms and solve problems and also help buyers buy on terms and buy the house. 

Funds will be released based on % of work completed.Send me a message if you need any help.

You supply them with a draw sheet and they issue a check.And for 2&3 you just need to determine if the investor requires an on site inspection prior to release of funds.Best of luck.

Also, your current mortgage includes the two lots you'd like to separate, and that would require the bank that holds the mortgage to release them from the mortgage.

I don't believe you can say you are negotiationg on someone else's behalf without a license but you can certainly ask your end buyer's advice on value.If it comes up in casual conversation with seller you can say your partner will let you know how much he will release for a particular property and can even mention if he or she really likes a deal they may buy you out and take it themselves.I get lots of "No's" but I believe its because my offers are low and not because sellers are confused, I dont believe sellers need or want a dissertation on wholesaling so I try to convert the concepts to clear and common language.

Typically we can get a second released/satisfied for 6-10% UPB, in a short sale, which is usually in foreclosure by the first, and upside down on just the first....but that's a totally different story.