I was aware of this stipulation and worked around it.

This was a complex loan for them with many stipulations so i had to keep them happy (so they wouldn't back out on me) and try and meet eh trustee deadline.

I suppose I would have to see the Lease he signed and make sure it doesn't stipulate that somewhere...

This will give you a fixed amount of time to do your inspections (including termite inspection) and then back out of the contract for any reason, should you not be happy with the results.Other contingencies you might consider are for financing (you can back out if you don't get your preferred financing) and appraisal (if the house doesn't appraise for the purchase value, the seller must drop the price to the appraised value).Keep in mind that every contingency you stipulate makes your offer weaker, especially with less motivated sellers.

You may find that you get it for less than any deal you are making right now, except that you have to wait for the reclaimation period so short sale may be out.Since taxes go with the property, it is usually stipulated in any sales contract who is to pay which years taxes.

It's not uncommon for banks to take a while to come back with final signed contracts and addenda. 10 days is a long time, but my guess is that the deal is still moving forward...so just be patient.If you're concerned about the closing date being too soon giving the time the bank has taken, let you agent know this, and have the closing date on the contract pushed back by a week or two.One stipulation you can use in the future is:"All parties agree that the closing date will be scheduled 30 days after the binding agreement date, or at a time agreed upon by the parties."

I am pretty sure that the stipulations reside with the lender, but I thought I would check out here to see what you all thought and knew.

Maybe others can speak to this as well but I know in my lease agreement that it clearly stipulates that once notice has been given I have the right (with notice) to bring in prospective tenants to view the place.I got notification on March 28th that my tenants would be leaving at the end of April.

Just make sure the PSA stipulates the contract is assignable.

yup.fha has stipulations that some sellers don't want to go through (ie, FHA inspections). very common in my experience to find sellers not fha friendly.