If you do pull the trigger, I would float the rate until closing and keep a pulse on the 10yr note.

He will tell you, INTER ALIA, that you want inspection, financing, attorney review, title review, insurance, environmental, and survey review.Second, get a GOOD home inspector lined up.Third, get your banker lined up.THEN you can start looking.Also, keep in mind that backing out of a contract must relate to the contingency being used, and can only be triggered AFTER a good faith effort comply with/fulfill the contingency.

Not sure who is in 1st position but maybe catch up the payments and deed in lieu of foreclosure and wrap it hoping it doesn't trigger due on sale then sell it on market.

So I pulled the trigger

@Stetson Oates, Thanks, and you are right, market conditions would limit how much of the initial funds one would be able to withdraw.I should also add that, while I am not an accountant or tax professional, it appears that at no time in the strategy above would one trigger a taxable event, since you're not selling any stocks or property. 

I don't know anyone or anything about the area but we are willing to pull the trigger.

@Jagan ReddyHave you pulled the trigger on Memphis?

@Jaquon Miller Did you already pull the trigger?

The transfer of title could trigger negative covenants in the loan (eg: Due on Sale Clause).

If you want your space to feel inviting and comfortable to live in, you have to trigger certain emotions in people.