Buying Foreclosures, REOs. Short Sales, FSBO, MLS and More

Thanks
Anne

I have three places that I would like to get deals on but I don't have money and I don't have pof so how do I get around this.

I have a seller that is very motivated and the price is right, but there's one problem.

He is still unpacking from losing his primary home and he says he will sign whatever he has to to sell his rental that is in foreclosure, but he does not have time to deal with anything.

He can't find the paperwork from the lender to tell me what kind of fees or taxes he owes and I can't make a solid offer until I know this.

Can I use a Letter of Authorization, or do you have to be a real estate agent to use one?

All of the ones I have found specify that the "authorized party" is an agent.

Someone help me out here, can I get a LOA myself?

If so, where do I get it?

a 2/1,924 SQFT @ 7729 CANTON DR,LEMON GROVE,CA 91945.
ZILLOW'S EST IS $164K,MY OFFER IS $159,900.THEY WERE ASKING $239K.

7687 CANTON,A 2/1 864K SQ FT SOLD ON 8/02/2011 FOR $199K.ZILLOW'S ESTIMATE WAS 194K.

BECAUSE THIS PROPERTY IS ULTRA-TURNKEY,AM I O.K. ???

ANYONE WANT TO PURCHASE AND ASSIGN ME A $5K-$10K FEE,TO HELP ME GET MY FIRST DEAL ???

Here is my situation-

While strategizing my plans to find sellers, I was informed having any contact with homeowners in pre-forclosure is illegal. It is a new law here in the state of WA. RCW 61.34: Distressed Property Conveyances (formerly Equity Skimming)
The Legislative Findings of RCW 61.34 are as follows:

When determining if a home is a good deal, what do you have to consider in terms of liens and existing mortgages? I backed off of a property that I could have locked up @ 50% FMV, but the owner was still upside down on his mortgage. Does the mortgage stay on the home and just transfer to you? Thank you for your assistance.

In my part of Florida there are foreclosure online auctions almost daily. Can anyone tell me more? I see homes bought by the plaintiff for $100. Why? Nobody bids? I saw a vacant home value $155,000 easy. plaintiff max bid $9,000. Plaintiff took it for $1,100. The plaintiff was the condo assoc. What happens to the mortgage now?

I have a REO that I am currently considering making an offer on but wanted to get the opinion of the DG communnity. This is what I have:

3 bd
2 bth
single family
2,174 sq ft

listed at $75,000
comps value property at $116,743
property last sold in 2004 for just over $100,000

I rode by the property today and looked at the exterior and looked in the windows at the condition of the property and it is not in very good condition. I'm not very familiar with estimating rehab costs but I think at least $30,000 if not more to rehab.

Please let me know what you think.

Thanks,

Mark

DISCLAIMER: THIS IS MY FIRST POTENTIAL DEAL!
A $68,000 FMV home willing to go for almost half that.

Now with that out the way,

I found this home in my state where seems to be a great deal. I noticed that this house has been up for sale a few months now. The newest ad I saw said he was willing to sell it for almost half its FMV.

I nearly fell out of my chair! Even though excited, I calmed down and wondered why it hasn't sold yet even when the sales price was around $40k-$50k.

I know the area a little bit. It's not the best crime-free zone, but there are houses in decent shape and located near three schools.