Please, any help would be greatly appreciated as I know there are members on this forum that have extensive knowledge so thank you in advance!

There was a fire one one half of the property, and the water damage extensively damaged the whole thing- total loss by my insurance companies standards.

One more thing- have your attorney add a clause that you can request at least one extension and see if the seller will accept $1000, $2,000 pr $3,000 nonrefundable instead of $5,000.Good luck to you!

@Nancy ZhaoWhile heat-pumps (either air to air or air to water) are wonderful  - we use them quite extensively - those of us in climates which experience *real* winter are normally required to have an ancillary source of heat to cover those periods where the heat pump alone is inadequate.  

I have done extensive research regarding real estate and now finally ready to dive into the industry.

If you extend the loan - yes, you can add the hefty penalties and extension fees, however - what's the end?

All of them ended up in extensive litigation all the way up to the Third Circuit Court of Appeals before it ended up settling. 

Pros and Cons to everything I guess.Buying a Property with Cash - This is an extensive subject but I created a post specifically for this topic and how to structure it properly HEREHML are one of the other loan types where the lender will have their own rules. 

Interview them extensively.  

I have used this extensively in many REI businesses with huge success!