Changing named insured also preserves the position of the bank under the mortgagee clause but at no time does it change a lender's basic requirements that you get insurance on the property.

There are stickers in the window from a Mortgage Preservation Service which, from my limited experience meant it was an REO.

There are people who get caught all the time since the agents and property preservation companies do inspections weekly.

Everyone knows thanks to the improving economics, foreign buyers willing to over pay because they want capital preservation more than cap gains, hedge funds basically doing the same over paying for capital preservation that there's been a significant drop in Cap rates and cap rate pricing of property.cap rate = NOI / asking priceWhen cap rate drops and the seller or broker is smart enough they hide expenses, move expenses below the line etc to jack up NOI resulting in an explosion so to speak in price.

If so they can stall any redevelopment and force you to do extensive and expensive renovations to the existing structure to preserve the quote "heritage" of the area.With that kind of stigma (gas explosion) I would get the price much lower.What's the parking situation like there??

I'd start with getting their name right: JP Morgan Chase.From there, its a twisted world of property preservation companies, REO agents and asset managers, none of whom have any incentive to work with you, and certainly not for the purposes of fire selling the asset.

The bigger banks rely in on the listing agents and preservation companies to handle a lot of the rehab.

These items become very important for preserving value and controlling the look and feel of your investment for years to come.

There are no zoning laws, no regulations that tell you that you can’t do something, no barriers, and no real historical preservation societies to speak of.

The duplex is in a Neighborhood Preservation Area.