They do this to pull the home off the market as the government's intention is to get homes off the market not just give it to another person to sell at a higher price.

If the investor/servicer is a portfolio lender you may be able to make a direct offer to them or at least find out their intentions.

I'am sure it whas not the sellers intention, they are more than likely being sued, you can be happy that you were not dragged into this mess and this is only the beginning and nobody knows how it's going to tern out, listen to this conference call by former attorney general Marc Dann it' the last one.

Maybe this intentional, but it is not, to me at least, intuitive.

If your intent is to flip, then you will be classified as a "dealer" (for at least that property) and the property will be classified as "inventory."

My intention is to purchase the note and work out a deed-in-lieu (which I don't think is possible because the mortgagee doesn't have the deed to the property) or wait until Sheriff's sale, take possession of the property, fix it up and resell it.

I had intented to hold for lease but I received an unsolicited offer to sell the property for $300,000.

And you'll be wanting to bring prospective buyers into the place.If you're intention is to buy, and this looks like a good prospect, make an offer with an inspection contingency.

However, the local bank I was working with is unable to give us a letter of intent, which I found out about a week ago.

I don't have enough money, so I have the realtor wrote a cash offer with intention to use hard money to close. my hard money lender already approved the loan. but wonder if it is ok to use the hard money to close the sale due to the original offer was cash. do I need to inform the realtor about it?