Ultimately it will depend on the property (banks perform stress test-debt ratio)-but I think 5 year term is what I found so far.

The seller accepted the offer with terms of accepting backup offers until January 8th, which I am fine with.

We are looking for 3 year lease if that is acceptable with you.My initial reaction was to decline this offer.

Hi Divya, Lying on an application is frustrating and if it was caught prior to them moving into the home i would not accept the tenant.

If you don’t agree to that to kick you off the platform.Really not appreciating being forced to accept instant book

In this instance what I would do is get the deed in lieu from the borrower so you ahve the property again and get a note from them but have an attorney draft it to see if you can include a confession of judgment - meaning if they do not pay then you can get a quick judgment and possibly garnish wages.I would also have them put a small down payment as part of the note and only accept a check that way if you ever did garnish you have a copy of a check so you know where they bank.unfortunately you are right they can stop paying on the note and its unsecured so its a risk but out of all the options this is your best option.

However, it is perfectly acceptable to combine all tenants’ security deposits into a single account.

If she refuses, then you have to go legal....actually I would get an attorney even if she accepts cash for keys...have a binding agreement drawn up to make sure she can't return.I was curious so I just looked this up, and you have what is called an 'At Will Tenant'.

They keep rent low, give gifts and homemade cookies for Christmas, make upgrades whenever the tenant requests,  accept all the late rent excuses, etc.The truth is, your tenant is not your friend.

You now don't seem like the type of person most of us would accept a recommendation from.