Here,  as per our contract, when that occurs the seller is not in default but if it takes longer than 14days the buyer can choose to stay in the contract, or walk.....to stay in contract they have to sign an extension.My gut reaction, since the buyer refused to sign an extension, would be the buyer is SOL.....but @Russell Brazil knows your contracts, I rarely disagree with him, so I’ll defer to him.

Any adjustment should reflect the reaction in the market from buyers to the difference at hand.

It's definitely possible to do better than the numbers above - you just don't want to count on it.To condense everything above into my gut reaction - risky, definitely potential for headaches, but potentially profitable.Hope this helps.

If not, and you or one of your partners is audited, the initial reaction may be 'I see $150K profit on the HUD-1, but not on the person's return...'.

The reactions are better in person.

Michael Seeker It didn't bother me at all to be honest my initial reaction was laughter because I couldn't imagine anyone in there right mind buying the house at that price.

I then told him we would go ahead take the property he had just emailed, so he sent me over an electronic contract which I immediately signed.You can only imagine my reaction when he told me that your office, in its grand wisdom, "made an exception" and allowed someone with non-certified funds to purchase the house. 

I'm interested in what reactions are being received with respect to yield, concerns about the market values, and length of loan term.   

As a reaction, I would vigorously enforce the City Business at Home licensing in addition to State licensing for daycare. 

Hi Nick F.Welcome to BP and nice forum reaction you´ve got going here!