If there is an existing lender not agreeing in writing to accept payments from the LPO buyer, then you are in violation of the statute -- and it is a very toothy statute -- vs the seller/landlord side only thoughWe are getting ready to get one in place because the seller is demanding it and my client is the protected buyer.Yes -- you must vet your sub to buyers -- some should not be anywhere near a wrap transaction.Stay safe out thereAlan

However, sellers currently on the market are more likely to accept lower offers, giving us some room for negotiation.Rental Market TrendsThe charts below are only relevant to the property profile that we target.Rentals - Median $/SF by MonthRents held steady from October to November, bucking the seasonal trend.

Weeks later, it was communicated to us that the underwriter wouldn’t accept the ones signed by only one of us – legally binding for LLCs – and required we send amended copies of leases signed by both of us.

They were perfectly acceptable 20 years ago, but now many areas are limited to one guest per calendar month. 

There can also be a lot of bad advice, so be sure you know your local laws before blindly accepting this type of advice.After 30 years of being in this industry, a lot has happened. 

And a general contractor would NEVER sign a customers contract  This ^^^^ 1) No good GC will accept a customer providing materials They would have to be a newbie or a fool.

In this instance what I would do is get the deed in lieu from the borrower so you ahve the property again and get a note from them but have an attorney draft it to see if you can include a confession of judgment - meaning if they do not pay then you can get a quick judgment and possibly garnish wages.I would also have them put a small down payment as part of the note and only accept a check that way if you ever did garnish you have a copy of a check so you know where they bank.unfortunately you are right they can stop paying on the note and its unsecured so its a risk but out of all the options this is your best option.

A few years ago sellers weren't accepting offers with financing because there were so many cash buyers. 

Many sellers will not accept this since they are in second position, and it is very risky since if you default (higher probability for investors with no money and/or no skin in the game), they will most likely be wiped out during a foreclosure.

Weeks later, it was communicated to us that the underwriter wouldn’t accept the ones signed by only one of us – legally binding for LLCs – and required we send amended copies of leases signed by both of us.