Crazy enough, I might even rent an extended stay hotel and keep my current house.

John is correct on the amounts needed to extend and those amounts are pro-rated so if you don't use the full 15 days, you will get some money back.

Playing on despite people trying to make a living with limited resources and putting them in a position of using up their money for materials and promises, not to mention the extended living expenses, on strategies that may or may not work in their area is lower than low.

Our lender has a fee to extend their lock on the rate, I'm trying to see if the seller Ocwen will credit that back at closing.

You must pay to extend past those days.

Since I am so nice I would extend but let them know that the emd is forfeited either way.

Regarding your lender issue: is your seller flexible with timing and would he take a cash incentive to extend the contract and get the repairs done by closing?

Month to Month Term – $2,100/monthThis would extend your lease on a monthly basis with no set termination date.

Insurance companies like to not pay claims so don't "save" a few dollars by getting a homeowners policy that doesn't indicate the place is a rental, or get a policy extending off your personal insurance but own the rental in an entity, or get a rental policy for a place that will have a big 8 week rehab before it is rent ready, or not tell them the place is vacant if you can't get a tenant within a month (Or whatever your particular grace period is).All of these are reasons they can deny your claim so those dollars you saved really aren't worth it.

Additional earnest money could be made say as $5,000 quarterly (initially 5 at the contract plus 4 more payments gives them 10% down....roughly).Payments are "paid out of closing" credited to the purchase price and non-refundable paid to you.To give the buyer a warm fuzzy feeling, give them the "first right of refusal" in the sale contract over the contract term.You can also put in the sale contract that it will be extended as necessary for lending requirements, say no more than 60 days, this gives them one year plus to ensure funds to close as any lending requirement to be met so long as they have a commitment.You need to tell your lender that you will be leasing the property as they will be getting a new policy from the agent.