@Jim Goebel Yeah, we have talked about bringing a lawyer in to write up essentially an operating agreement for this deal.

Talk to a CPA or lawyer if legal draft a contract.

Her incentive to do this is that she'd rather loose $20,000 than the entire $66,000 she has in equity.Clearly, I need to verify the creditworthiness of the buyer, verify that they will in fact be able to refinance, verify they have strong homeowners insurance, walk the property, get title insurance, have lawyers draft the needed documents, and make sure it's all properly recorded and collateralized.

Consult a local lawyer as your laws may differ from those in my state.

Could anyone recommend a good lawyer in the Newmarket / York Region area in Ontario?

Some forms have enough room to spell out the terms.Then a lawyer will draw up the promissory note that both parties will sign at closing.

Leave this to the lawyers and have your borrow pay legal fee

The lawyers will just execute the QCD first, then complete the remainder of the filings.

I found out the max bid from the mortgage lawyer... it's well within budget... the house needs work but in a great neighborhood... so what else is of concern??? 

They see lots of Airbnb everywhere including in their community but HOA’s lawyer sent letter to immediately stop renting rooms to people.They are in 5 bedroom house and renting only 3 rooms to 3 people.