First time buying a home. For me. Please help!!

Thank you for the advice. I am keeping all my options open so I will continue looking for such properties.

I was unaware that HUD gives $1000 credit to their occupants so thats good to know as well

once again, thank you.

Well, I wouldn't go by Zillow. Did you try the TotalView tool? That may be more accurate.
It would be good to know what it's worth. BUT start by talking to the owners anyway. I think the current "owners" want out. The "real" owner doesn't want a hassle, I'm sure. If the title has not been transferred yet, just ask the "current" sellers if it's ok for you to talk to the previous seller and maybe you guys can make something work. I'm sure they'll be fine with that. Then you can negotiate with the actual owner. I'll bet they'd be willing to renegotiate the price/terms even if it means some loss. They will know the market is bad right now, they will not want the expense of taking it back. Who knows, you might even be able to lease/option it at this point. OR if they don't want to go through this hassle again, they may just sell for dirt cheap and not care at all if you assign it just so they can get rid of it.
IF, on the other hand, the current "seller" does have ownership, you can find out if THEY can renegotiate with THEIR seller or if they would be willing take a loss on the place. You just never know. There are so many other options, too. But I would say start by talking with them again. Ask if they've had any bites. See when they want to be out and what you can do for them. The more you talk the more rapport you build, the more "experienced" you get, and the more your mind can spin to come up with a creative way of working the deal. All of this is nearly impossible with a listed property negotiating through an agent. I have come to love these FSBO transactions and all that you can learn from them. The only thing you could possibly be out is your time if the deal doesn't work out, and heck people PAY to have someone teach them that stuff. YOU can do it for free! So, I would say go for it. Ask also if you can run a ghost ad both for buyers and renters to see what response you get if you did lock it up. I have a feeling that both "sellers" will give their blessing for whatever you want to do, and that way you might already have a buyer before you lock it up.

Good luck and have fun!

Rina

I have had hard times to but have always believed that if i focus on what i want to attract it will come my way. I believe that the good that you seek will come your way and as you focus on abundance it will over flow into your life and in to the lives of those around you

Mike

that's a good word. so true!

Rina

Im not too sure what the totalview tool is but I'll figure it out and give it a try.

Youre right though, I think this would be a good opportunity for me to "get my feet wet" sotospeak. I will call the contact on the craigslist ad and arrange another date for me to visit the property again. I'll take a closer look and take pictures if possible. I think I'll take Deans repair cost form with me too. Then I'll find out for sure what the selling situation is.

We'll see.

Thank you you're right on the money.

Every night before I go to sleep I picture myself in my own home doing silly things like cooking or laundry. I try to see myself as a real estate investor everyday.

Just too keep my eyes focused on the prize..