So that is more a way you can still lose the house, even though you thought you bought it.We have had an owner declare bankruptcy on the day of the sale, but the sale went through due to the late filing.  

Laws and deadlines are very specific and missing something will end up costing your time and money.

Full Market Report: https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1201688/__LA_Self_Storage_X.pdf

The application was filed may 12 and application still says under review.

Full Market Report: https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/1201687/__LA_Warehouse_Distribution_X.pdf

If you can show several other homes in your immediate area where the Just Market Value is lower than yours and those houses are near by and similar in make-up, you can file an appeal and have your case heard.

Who holds that deed until it is filed? 

see Facebook group:Norada Capital Default Notice:If you are one of the investors, please see Facebook page with agencies and links to file complaints !

TX is only $300 or so of fees in the first year of the LLC, but then requires an annual report that someone needs to file. 

Trying to keep an existing tenant often produces more trouble than it's worth.To answer your original question, you should absolutely give them a deadline and a consequence.