Also your permitting process, type or land, grade of land, if underpinning is required will all play a factor into your cost. 

Our investing thesis for "property type" is newer vintage homes, 2000s or younger.

That type of stuff.2.

Sellers who are in financial distress or dealing with a property in poor condition might be more open to this type of arrangement if it helps them get back on their feet.The key to making this work is transparency and clear communication.

Quote from @Andrew Steffens: There are probably more experienced people on this type strategy who will hopefully chime in. 

So, this type of auction usually offers similar protections in the process as a conventional sale. 4.

In the meantime I would love to have some helpful information or ideas to share with the buyers when we meet and ideally an agreement/contract we could fill out together once new terms are agreed to and then share that with the attorney so he could draft up the formal instrument for recording.If you have experience with this type of scenario, I’d love to hear any recommendations you have or any helpful resources you could point me to for the appropriate paperwork.Under foreclosure laws, you have to send appropriate notices and try to work with the borrower and offer a loan mod before foreclosure anyway. 

what type of property are you thinking? 

@Jason Dillard that is a great point that many investors fall to look at when making this type of decision. 

To save my fingers from typing the same thing over and over, I wrote a blog on BP with my tips and tricks.