My questions are on How to by a Bad House. I just want to make sure i got it.

"We offer you your asking price and agree to purchase your equity for full price." Meaning:

We will take your property "Subject to your existing mortgage" and give you a note for your equity

"We will deal with your mortgages, debts, liens, back taxes, maintenance, yada, yada, yada...." Meaning:

We put the property in a land trust with seller as benificary and me as trustee. Then have them assign the benificial intrest to the trust to me. Inform the insurance company and the lender of the trust and away we go .. . (is that right?)I almost forgot the power of attorney and the signing of the deed into the trust (Is this right or am i missing something)

"We make payment to you(against your equity) until you are paid in full. you receive a monthly payment equal to your equity divided by 100 (i.e. equity $2400.00 / monthly payment $240.00)" Meaning:

The have a note from us for 8 years and 4 months for 2$240.00 with a prepayment discount already written in your wonderful agreement? (i.e. 12 months = 40% discount. And also a advance payment discount on the same note? Damn . . . . it sure is good to be one of your subjects!

"Your name is Removed from the title" Meaning:

When the title is transfered to the trust, The individuals name is not on the title anymore?

"We will buy the property and handle the entire transaction at no cost to you" Meaning:

This is a tough one for me. If the property title is transfered to a land trust, and I am the benifecary (however you spell it) and the trustee of the trust doesn't there still have to be a closing or.....would there be a double closing if I did a lease option and the tenant decides to exercise the option and buy the property. Either way the seller would not pay any closing cost because whoever buys the property from me would be responsible for that. Is that right?

Well, your highness...it is 1250am Columbus Ohio time and I am getting in the bed, because visions of sugar plums are dancing in my head(The Night Before Christmas) But i am excited. I made my first offer today using the free form I got from your free forms thing. (I haven't received my course I ordered yet!)So. . . .if old boy accepts my offer my ads I put in the paper should get me a tenant and away we go . . .(i just put my sunglasses on - just now)

Any advise you have King would be greatly appreciated!

Your Loyal Subject

Louis Fomby

PS How many deals do I have to do to get my Knighthood in the Kingdom?
what?