It's gonna take 30-45 days to secure financing for anyone, unless of course they're using all cash.3/2/1 prepay only works against you if you decide to refi in the next 24 months. 

There should be questions about the rent amount, due date, lease expiration, security deposit, who pays utilities, and who owns the appliances, at least.

The mortgage is secured—or collateralized—by the house, the buyer’s name goes on the title and the mortgage is recorded with the local government.2.

How much do you usually collect for the security deposit? 

You typically have 30 days to send the tenant a letter detailing the cost of any damages against their security deposit.

The seller was motivated to close quickly, and we negotiated a favorable price of $80,000, allowing us to secure the property at a discount and capitalize on its renovation potential.

Ensuring the safety and security of my guests and property is of utmost importance to me.

Would you charge damages from the security deposit?

With everything pretty much being new I feel reasonably good and have somewhat of a “it’s meant to be feeling” with the original buyer struggling to get the funding together to complete, allowing me the opp to finally secure.

Additionally, I’ve secured seller financing for half of the purchase price, but I’ve been told this could complicate things further since banks typically prefer being in the first lien position.