So, in effect, you could buy today and assign your contract before you actually close............but in any event, I would not advise you to get into any deal unless you were confident that you could close (ie: have the funds or resources to obtain financing), in case, essentially, you were unable to assign your contract to your satisfaction.

My point is no one should have access to funds that you put into an account, wether it be private or not.

I will have between $100-$125k in liquid funds to supplement bank financing.

If they don't know ask them who will conduct the auction and contact the auction house and ask them.As a general rule you are required to have funding to even take part in the auction.

Executed Broker Loan Fee Agreement, if applicableAdditional items required to approve, document and fund the loan1.Appraisal Report by an approved appraiser2.Formation documents of the Borrowing Entity (LP1) and Tax I.D. number3.History of property ownership if purchased from a related party4.Closing Statement for the property (or proforma closing statement if under contract)5.Joint Venture agreement (if any)6.Preliminary Title Report with underlying documents7.Geotechnical Soils Report8.Phase 1 Environmental Site Assessment 9.Site plan (with units plotted)10.Grading Plan 11.Architectural drawings with specifications12.Architectural agreement (if any)13.Engineering agreement (if any)14.Construction Contract (if any)15.Insurance broker’s name, address, and phone number (builders all-risk, general liability)16.Independent cost review may be required17.Related Debt Certification (Loans To One Borrower)Notice of Right to Receive a Copy of the Appraisal Report Here is the info to help you out.

At this point, I have my team and now and going into the funding phase, so I will keep you all updated.Best-The Wolf!

In those cases I put the funds into an account that the sub can draw on at the completion of that particular phase.

Has anybody ever had any luck getting government grants to fund real estate projects?

I found a local partner to help fund part of the deal and it ended up not bringing as much as I thought it would.

What you can do to get out of the gate is pick up an MP3 player and get as much audio information about Real Estate as possible.