Now granted that has gone off the rails because I have decided to change our focus because my end goals changed, but doing the exercise helps create the path to walk and figure out what the next steps are.

I'm interested in doing that for a property we just renovated and I'm curious on how to proceed, especially if the tenant decides to exercise their right to buy.THanks

He should just exercise good faith, himself.

The winning bidder gets the right to possession, but usually cannot exercise DIY possession.

Hi Calvin,We pay for all property management technology fee's, etc... and that isn't a separate bill per se.Those are our standard operational expenses so on us to pay for.It would be like McDonalds charging a per burger fee for tech they use hahaWith that said, many folks don't realize how much it costs to be a full time "property manager" and not par time property manager like many realtors are forced to become due to client demand.When you are a brokerage and only focused on property management and not sales, it becomes a very expensive exercise making your company efficient and being able to offer an above par service to tenants and landlords. 

With a few month's before some note's expire they send notice unto their regional lender inviting lender into a negotiation of consideration because there intentions are if a mitigated arrangement can not be meet, with market rate offerings on debt not tenable, there going to walk away and exercise strategic default. 

New faces were EVERYWHERE and it quickly became a head shaking exercise weekly as we had max bids (and if anything, you'd think an experienced person could go a bit higher than a newbie) since almost certainly we could get it done for less and I was still part time then, even the full timers who could knock em out real quick and efficiently were amazed at how high so many went, there was NO WAY there was profit there.I did the same thing, moved upmarket, but if it weren't for years of experience and years of reading about what those buyers want, not just in near perfect quality, or perfection on the high end, but also the features they want.

When we exercise this option thinking that there may be something significantly different we bring a 3rd party inspector.It may be too late to exercise this option but....

State that the sale price will be determined by an appraisal at the time the tenant wishes to exercise the Purchase Option and set a minimum floor price around current market value or slightly below. 

With all that being said, USDA like every other loan program out there, can exercise the mortgage acceleration clause if you are not abiding by the terms of the contract.