What do you guys do in this situation ?

I'm about a year from that whole situation.

I was wondering today what real estate investment opportunities might present themselves due to this unusual situation.

I am referring to the situation where the buyer's financing is approved and the seller has met all his obligations, but the buyer does not bring the closing funds nor execute the purchase/loan documents.I know the earnest money is forfeited, and a lawsuit might follow, but what about insurance and letting the insurer sue to recover?

I havent called the bank back yet, and was wondering if anyone has come across a situation like this, and what the outcome was.

A lot depends on the seller's character and their unique problem or situation.

I've run into a interesting situation with a property.I have located and am in contact with a property owner who has a property he wishes to get rid of by any means.

On a SFR, you would typically get a pro-approval based on your personal financial situation.

These are all older people who aren't into "chaos" situations at their age.

I realize that sounds crazy given the current situation, but I tend to look at the upside to everything and right now those with cash can buy cheap and when the credit crisis turns around those that have been waiting will start to buy again.Thanks to you and also thanks to BiggerPockets for being a great website.