it was an interesting process but basically, the novation allowed us to get the deal done without having to involve the banks. this was a huge motivation. that way I save on having to close twice. 

Unlike refinancing, which involves taking out a new loan, recasting keeps your existing loan terms—including your interest rate and loan duration—intact.

Quote from @Garry Lawrence: I need advice on a serious situation involving a property I’m about to buy.

If you can involve the local fire department to help with defensible space as a start. 

Worked out nicely for all involved. 

Maybe they have other properties they are interested in selling without a Realtor involve.

Investing in single-family residence fix-and-flip projects in New York involves purchasing distressed or undervalued single-family homes, renovating them, and selling them at a profit.

He determined the price and terms for the property, and according to the agents involved, he consulted with accountants and attorneys before signing the contract.

This one was strange because I ended up splitting the companies and partners involved in the deal so we liquidated halfway through the project. 

I bet the rate of Engineers going homeless is all but 0.