That and my subsequent experience as a Real Estate Agent is a foundation for a new initiative, a new result and an outstanding life.

There is an outstanding out-of-print book out there called Equity Happens which I think you should read.

Is there an offer on the property below the amount of the hard money outstanding? 

.$600 closing costs rolled into the loan...25-yr am schedule with a 15-yr draw period...true interest only payments on the outstanding balance only. 

@Ricky Knack Well, Someone is responsible for it.....typically your purchase price is enough to pay off All outstanding debts, and they simply paid from the seller’s proceeds at closing.  

My wife and I currently own the following properties in Ottawa, Ontario:1 - Primary residence - ~650k value, 475k outstanding mortgage2 - Rental property #1 - ~500k value, 231k outstanding mortgate, HELOC of ~70k available. 3 - Rental property #2 - ~220k value, 145k outstanding mortgageIn the next couple years, we're possibly looking into purchasing a new primary residence and we'd like to convert our current primary residence to a rental property if possible.

I'll have an outstanding HELOC that's just sitting there?

So make sure to keep those in mind should you have those outstanding as well.

It’s a Normal Sale as mentioned....sign a contract, get a title search and title insurance, go to closing, the taxes get paid out of the seller’s proceeds....assuming the purchase price covers all the outstanding liens. 

The more money you have outstanding, the more negatively it impacts your credit, BUT the more consistently you pay your bills, the better your credit gets.