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

So I have a question in reguards to earnest money. How much have you typically paid?? my realtor is telling me that the banks want at least 1% or at least going to counter my offer of earnest money. Is earnest money req'd? cuz 1% is a few grand i dont have on some of these properties.

2nd problem

I am currently living in North Carolina, I am planning to move back to the west.
Would California be better than Arizona?

1, will the bank likely to accept the offer w/ assignment clause on it?

2, who will pay for title search ? can we put in the contract that the lender pays for it?

3, can i do double closings on reo property?

thank u very much.

1, will the lender likely to accept short sale w/ assignment clause on it?

2, who pays for title search? (lender, or me) or negotible?

3, what if, the property has more than 2 loans on it, would it be very hard to deL W/ ?
HOW TO DO IT? PLEASE HELP.

4,can i do double closings on short sale?

Looking at a house in my town. I have an appointment to see it Monday. It's estimated value on CyberHomes.com was $259,974. Bank-owned, asking price is $135,ooo. According to the site, comps for that area are $274,750. It is a 2 family house with 2 one bedroom apartments each floor. And it last sold in 2003 for $254000. Seller has never lived in home, so I don't know if he may be out of state. My question is how much stock do I put into theses estimates and comps? Any help is greatly appreciated.

Stephen

I have a possible short sale where the owner wants to stay in the house and buy it back after two years. My problem is I have bad credit and no money. I do however believe I could be lent the money on a very short basis to purchase the property. I would then want to refinance right? How could I refinance with poor credit and no money? Could I do that the same day? Any suggestions would be great. I would really like to try and do this on my own.

I know of 2 properties that payments have not been paid on since june 0f 08'. I purchased Deans book and heard about all the step by step proceedures with no money down and bad credit, all that. Where are the so called step by step procedures to do something with these properties though. I dont have a clue as to what to do next.

Hi DG Family,

I just got off the phone with a person who listed his home on craigslist. They are wanting to sell there home because he got hurt and can not afford to keep making payment on the home. I asked the questions from Deans book, BARM and I beleve ther is a great oppertunity here to profit. he is currently 8 payment behind and the bank has sent him info on what he has to do in order to keep the home(pre forclosure) I think. The owner stated he looked around on the internet and thinks his home is worth $191k but say's he needs to sell fast and is asking $150k.

I just got off the phone with a person who listed his home on craigslist. They are wanting to sell there home because he got hurt and can not afford to keep making payment on the home. I asked the questions from Deans book, BARM and I beleve ther is a great oppertunity here to profit. he is currently 8 payment behind and the bank has sent him info on what he has to do in order to keep the home(pre forclosure) I think. The owner stated he looked around on the internet and thinks his home is worth $191k but say's he needs to sell fast and is asking $150k.