On a Nightline ABC report, sale of homes in Arizona, Investors come in representing a number of partners and basically pay cash for property and as such do not have to get the inspections, see the real estate people, talk to the bank or anything while the average public no matter what the offer is are ignored because they are seeking financing.
Seeking financing even pre approved amounts to bargain that will be a loan are having to only deal with property that is ready to move in whereas the investor can take a property that has been vandalized and stripped because it is a cash transaction, no questions, no liabitily.
In some other deals I learned you can just buy the note for the full amount at the bank on a property. However, usually it is the bank presidents and vice presidents that are taking these opportunities and even those with big cash are put through the mill rather than give up a deal in lots of cases. This is where the long period of time allowing use by the community comes in. The bank presidents are able to maintain their little project until they can secure the funds, they just keep floating the paper. Unless the taxes get behind too much.
It is very hard to get the straight story on any piece of property. Real Estate people aren't any better plugged in than the general public beyond having a list of where the properties are and what places might be accepting applications for financing. You have to be able to know how to read an opportunity and who to weasel.
Another fabulous post from the U.S.Department of Wild Imaginings, now in spectaclar stereo, sponsored by the Adhesives and Sealants Council, suggesting ways to stick things together since the 1800s. Not fabulous in a gay way. Your results may vary. Illinois residents add 8% sales tax. These posts have been made by professional post makers, do not try this type of posting on your own without extensive training, lovely assistants and a trusty clown horn.