What is the debit & credit to buyer & seller on the settlement statement?

You have some drive by settlement agent do the deal for you at a cut rate.

somebody has to pay the 140k...if you're not paying it, then you need to find a buyer that will...their 140k will be applied first to liens on the property...so yes, the 40k mortgage will be paid at settlement...the closing attorney or title company that handles the closing will call the bank for an official payoff quote..

For example, at any offer within X% of the payoff or appraised value and how settlement costs will be split.You should be able to do this without involving your attorney.

It's not big deal, they file a lien and will collect amounts due at settlement.

Im not doing my seller any favors, especially when I am perfectly capable of getting the short approved (and more easily for a higher value) and giving the seller the best odds at a full settlement MYSELF - Without any flipping investor involved.

How long is your inspection period, you could ask that inspections could be performed, but the contract NOT being subject to inspections tothe day before settlement!

RESPA (real estate settlement procedures and disclosures act) applies to residential and not commercial real estate.So disclosures that come into compliance with RESPA won't matter with commercial.Now you said a tri-plex which is really a residential 1-4 multifamily unit.Anything over 5 units is commercial.You said you have a commercial space with this property.So whether it is classified as commercial or residential will come into play.Are you buying this property with a loan from a lender or paying cash??

Structured Settlements and Annuities

One minor correction -- based on how the FNMA addendum is written (as well as the restriction in the OP above), the clock starts on the settlement date, not the recording date.So, even if it takes 89 days to record the deed, you can still resell it 90 days after the settlement date.