The prequal with credit and automatic underwriting approval would be sufficient.

Doing that means you need to know the food business too.So, you need to identify what options you'd take.If there is existing financing, with the business closed and less than half the note paid, you might get in for the loan assumption and a token on equipment.

The remedies available to a PR are limited and further constraints are created by slow courts, unable to respond sufficiently to ExParte motions.

Some of the other factors include your tolerance for risk, your investment goals, your available capital and time, equity, current vacancy, and repairs needed.Is a 15% Return On Investment (ROI) sufficient for you if its a solid commercial tenant that will be there for the next 5 years and you don't have to worry about putting any on-going time or money into the management or upkeep of the property?

W I T N E S S E T H :WHEREAS, Assignor has entered into a certain Real Estate Purchase and Sale Agreement with __________ as "Seller" and Assignor as "Buyer" which Agreement was executed on __________, by said Assignor and on __________, by said Seller for the purchase and sale of certain real property being, lying and situate in _____County, __________, and more particularly described in said Agreement, copy of said Agreement being attached hereto as Exhibit "A"; and,WHEREAS, Assignor desires to assign, transfer, sell and convey to Assignee all of Assignor's right, title and interest in, to and under said Real Estate Purchase and Sale Agreement; and,WHEREAS, Assignee is desirous of receiving all of Assignor's right, title andinterest in, to and under said Real Estate Purchase and Sale Agreement;NOW, THEREFORE, for and in consideration of the sum of _________ Dollars ($___.00) and other good and valuable considerations, the receipt and sufficiency ofwhich are hereby acknowledged, Assignor has assigned, transferred, sold and conveyed and by these presents does hereby assign, transfer, sell and convey unto Assignee all of Assignor's right, title and interest in, to and under said Real Estate Purchase and Sale Agreement.

You don't think 500k would be sufficient to complete the split?

Cost estimates must include labor and materials sufficient to complete the work by a contractor.

I have sufficient equity to justify the amount of the credit line, but the reduction was something that they are doing across the board in my area.

It's expensive.In my case, we had to remove the carpet, the padding, and then tried the odor remover, which didn't work sufficiently.

I think, as Dan said, there would have to be sufficient equity and lower payments to justify doing it.