I would certainly meet speak and/or meet with a qualified broker or lender to verify but I have always known the requirement to be show one calendar month of pay-stubs as documentation. You can however verify this information with a lending professional.
This is unfortunate. You will likely find success if you make contact with a local agent who has equal access to properties in your area.
Usually no less than 3 to 5 years from the sheriff sale date in all of the experiences I have had unless someone has filed BK. In such cases I have seen 2-3 years occur.
If the buyer feels that he or she is well versed enough with the process to represent their own interest and strategically negotiate their price and do the due diligence necessary then he or she can certainly deal with the sellers agent. However, please understand that there won't be any "sharing of the commission with the seller's agent" as at that point the seller's agent will likely receiving the full commission unless her or she chooses to for some reason "share" their commission with the buyer.
It would really depend on the terms that the investor gives you. So you are purchasing this home on a Land Contract it sounds. Most of the land contracts I have engaged in have required no less than 10% to 20% as a down payment. Additionally, you will have to have an insurance policy paid up and your closing cost. You will want to know what your interest rate is and whether or not your taxes and insurance will be separate or collected as part of your note. You can negotiate the terms to find something suitable for you but most of the investors that I know and have dealt with that do such deals are rarely flexible about their terms.Last have an attorney or at very least a professional review your paperwork for you to ensure that your interest is not at risk.
Unless the property is on the market there usually isn't anyway to see it before hand.
Personally I believe that many sellers are in a position where they are can make minor investments that will help with higher return. Minor updates to the home I feel help buyers "see" the house and the potential that it holds. Painting, tile and hardware upgrades go a long way.When a property is over priced I personally feel that it wastes valuable days on the market causing buyers to eventually "devalue" the home anyway. Why waste the time? Obtaining an accurate assessment of the homes value and listing accordingly is important.Those are two I know of off hand. :)
Perhaps you can try to sell the property on land contract to an individual who does not have the means to purchase using traditional methods. Someone who cannot obtain a mortgage due to credit issues but who can come up with a strong down payment and has strong income and work history may be a good candidate for such a situation. I have put these type of deals together with a trusted loan officer and yielded good results.Normally, we ask for 15% to 20% down have the loan officer examine the buyer's credit to determine what steps they would need to take within 2-3 years to do a land contract refinance and pay the seller completely off. The loan officer and a credit specialist work hand in hand with the buyer over that period of time and as long as the buyer stays on track and there are no major changes to income we have found success many times going this route.
You can contact a local agent and see if a search compiling such listings can be created for you. Another idea is looking through some of the lease or rental listings in your area and finding out if the landlord is interested in such an arrangement. Those type of listings are not plentiful in my area from what I know and have seen. However, I have seen a few opportunities and hopefully you will encounter some of your own.I hope that yields you some results and best of luck to you!
I would certainly say do your research. I was a loan officer for 10 years and will say that when you have average credit it is particularly important to align yourself with a loan officer and lender who are well versed with various lender tools,programs and guidelines to ensure that you get the best deal for your situation.I have found that brokers ( in my experience) tend to have more products to offer to those with less than perfect credit than traditional banks.Cassandra's suggestion of an agent referred lender is great and of course any friends or family who may have first hand positive experience is also a good way to go.Best of luck to you:)