All Forum Posts by: Wayne Brooks

Ned, good idea. Big enough volume?

Either the seller is contractually entitled to keep the deposit, or she is not. Taking a long time doesn't qualify. You'd have to be more detailed.
And yes, most listing agreements will call for the agent to colect a percentage of any forfeited deposit-because a deposit is only forfeited when a buyer was procured/under contract, and then defaulted.

Jennifer, you can go to Homepath.com, then "make an offer". You'll see the doc.s. I provide them upfront to my clients. Don't delay your inspections.

Easy one. Cash, is cash, is cash.

Scott,
You should probably refer to yourself as a wholesaler, since that's what you are. You're not an investor unless you buy the property. Just for clarification.

Lynn,
Yes, in Florida it almost always automatic. Talk to a local real esate attorney. I know people who've been on both sides.

Eric,
Apparently you think there would be some advantage in you "taking over the short sale"? The property remains listed so the bank knows it gets max exposure. Not that it's going to happen, but why would you want to "take over"?

In Florida you get an access easement, through the court, pretty much a slam dunk. I've looked at these in Palm Beach and Lee counties. The only real question is the value.

Honey bees? $200-300, exterminator.

Don't take the deed in your name! You'll have liability issues, and possibly legal issues by taking a property "subject to", in default, with no plans to pay the debt. Maybe have the neighbor allow you to rent it out, in their name, and maybe take a piece, for managing/watching/whatever. Or have owner rent to you for small fee, then you rent it out. Still possible owner liability issues though. Mark is reight, bank has no ownership/control yet.