When you start with shaky credit, low capital or low experience, you have to be creative in how you compensate for the deficiency!

We did take a step back on original price as now the inspection reports showed some serious deficiency with electrical panels that were recalled..

We did take a step back on original price as now the inspection reports showed some serious deficiency with electrical panels that were recalled..

Down payments, fees, holding costs, it's not a cheap game and liquidity is one of the biggest deficiencies among new investors. 

Some contracts have other language….must be a certain amount of repairs, seller has right to correct deficiencies, etc.

They most likely would rather have them sold and work out a deficiency with you than take them back and try and sell them.

@Benjamin Galetti thing is the listing said there was a new roof and when the inspector came back and said no deficiencies were found on the roof I had no reason to second guess until the GC said there were multiple spots on the roof that needed immediate addressing.

It recently took me 3 years - YES 3 YEARS-  to get them to do a new valuation, but then they ultimately approved my short sale and it closed.It does sound like he's been milking it, but ultimately he's better served by a sale than a foreclosure, especially if this is a deficiency state.

I don't have an inspection report, but one of the quotes has what looks like a diagram that provides a summary of the deficiencies. 

How likely is a bank to do a Deed in Lieu of Foreclosure as opposed to foreclosure and deficiency judgment?