@Thomas Manuel , I'm not a note investor, but I've seen many foreclosures in SF and the Bay Area, and they can take more than a year on primary residences, depending on circumstances.

Escrow instrux are binding here, but IMO it's advisable to be contractually bound asap under most circumstances.

(Emphasis mine) An issuer is required to consider the facts and circumstances of each purchaser and the transaction.

It was sent to a second underwriter due to the fact that between the three partners, this purchase would exceed the 4 property limit (A & B have 3 properties, C has 1) The second underwriter wouldn't give a loan commitment due to this circumstance.

Off hand, good terms, very good rate for seller financing, so good it makes me wonder, guess that means $1,080,000.00 financed.What is better depends on your market.The only other advice is ask questions that has much more detail about the circumstances and what the goals are.Asking what is better, as you did, is like asking what's better, a Ford, Chevy or a Dodge?

You may not like this, but here it goes.People need to begin by assessing themselves first, thier circumstances, education/knowledge of RE, thies ability to borrow, thier credit, thies ability to meet and work with people, thier understanding of business in general and the community inwhich you expect to work in.

(I'll get back to that in a minute)On the building manager's side, some have also made contribution to some of these circumstances.

Now if the city was somehow in possession of the property then maybe they initiated it for themselves but there still was a process at some point.Honestly you are going to have to give more info about who you're dealing with and the circumstances surrounding the deal in order to get better responses than "call the city" because that's really the only advice I can give based on what I know.

You'll end up having to prove actual and consequencial damages, such being reasonable under the circumstances if you get off the track of what is customary for your area.

Just get with the attorney, I'm sure they have done this before, as the borrower, you aren't on the hook, so much, but I'd try to get the longest term I could at a reasonable rate considering the circumstances made known here.