Contracts and Offers

=/so plz forgive me my friends..i've been really trying to master "multitasking" and i truly believe i can..i just must practice patience and continue to reach out to those that have walked the line. I've only covered i would say 5 1/2 chapters in Deans book and have gotten stuck on all these forums and have trying to figure out what the heck to do because after taking action I actually got a huge result in such a short period of time that i actually stepped out and didn't complete my mission in completing the book and knowing it inside and out.

We are having trouble trying to decide how to best approach submitting offers for wholesale deals in another state.

Option #1: find a home with potential, have our contractor and agent go look at it, have the contractor send us a repair estimate, run our numbers, submit an offer and wait to hear back (problems we thought of with this - wasted time of ours, the contractor, and the agent for an offer we don't know if it'll get accepted, putting in lots of offers with chance of little or no response)

We are having trouble trying to decide how to best approach submitting offers for wholesale deals in another state.

Option #1: find a home with potential, have our contractor and agent go look at it, have the contractor send us a repair estimate, run our numbers, submit an offer and wait to hear back (problems we thought of with this - wasted time of ours, the contractor, and the agent for an offer we don't know if it'll get accepted, putting in lots of offers with chance of little or no response)

Recurring and Nonrecurring Closing Costs

Basically, they relate to the costs of doing the transaction. There are people who work on getting your loan through the process of approval and funding, and those people have got to be paid. Anytime you're talking about a fee for a service that needs to be performed in order to get a loan done, that's a closing cost.

This includes even origination, which is normally quoted in points, as the fee that the loan provider takes for getting the loan done. Not all loans have origination fees in points, but I'd say that in excess of 95 percent of all sub-prime loans and at least two thirds of all A paper loans nationally do.

I am in the process of assigning my first deal and I am going to meet with my seller today and I know I need to get it locked up I am just a little unsure of exactly how I am supposed to do that ccan someone please tell me the steps to take to ensure that I do this properly

I have a friend in Tampa, FL with a preforeclosed home that he and his family have moved out of and I was curious if there were any buyers out there interested in buying a property like this. Also if I have a possible deal for my friend to get out of his situation?

Built in 2006
7bd 4ba/ 2car garage
4315sq ft
Purchase price was: $454K
No repairs needed: valued @ $263K
Has two mortgages, I believe the first is around $200k, and the second is $60K

I bought a property at an auction, put down payment on it with 30 days to get financing...planned on fixing up and renting...but had an offer the next day. However, I didn't write and/or assignee on the contract at end of auction.....can I still use Assignment of Contract form to new buyer and make it work?

So I found an REO that I would like to lock up, however, I need POF to make an offer. I would like to use transactional funding for POF and do a same day double closing. When you apply for transactional funding, they require you to already have a buyer in place, but how do I get a buyer in place if I don't even have it locked up yet? And I can't lock it up until I have POF?

I'm ready to give this thing all I've got but I have a question that's preventing me from understanding how this works. Does someone have the right to sell me his/her property if they still have a balance on their mortgage? If they don't own it, or only have - let's say only a couple thousand dollars worth of equity - how can they accept any offer to buy their property? Thanks in advance for helping me to understand and move to the next level.

Hi, Is there a different contract for each of these two titles or are they the same? What is the difference if any? I am looking at a purchase but do not want to finance. Seller is willing to do a lease purchase or option. Would this be considered a sale as far as the finance company that now holds the mortgage is concerned? Their contract says that the mortgage company can call in the loan as due and payable if the property is sold. Where do I go from here? Thanks for helping me out.