This is pretty embarrassing for BoA...the worst part is that they wouldn't even acknowledge or correct their mistake until the guy went to the press: http://www.sun-sentinel.com/business/fl-wrongful-foreclosure-0922-20100921,0,36776.story Sucks to the little guy, but at least he got it resolved...Personally, if it had been me, I probably would contacted BoA, and if they didn't return my calls, I'd let them take as much action as they wanted and then when they tried to physically remove my tenant, I'd sue their a**es for breaking and entering, destruction of property, etc.

Yet, you're ignoring them and pressing ahead.

I can see for a single tenant in a house that is not close to your other rentals doing a negotiation like that might work.Most of the tenants I have if the judge says to be out they go.Different tenants have different levels of knowledge with the process and the last thing you want is to empower them more.You will have enough professional tenants to deal with as it is.I always tell my property manager that "less is more" when talking with a tenant.The more you explain things to them the more they learn and are more difficult to evict.Let them believe they have to be out and most will just move and not wait on the writ.One tenant I had got a judgement in court and the eviction date from the judge.They paid the judgement and moved out and didn't wait on the writ.They didn't know about garnishment,bank levy,etc. and the process and just paid me the judgement.Also even if it is a house you have to watch if your properties are close to each other or renting to friends or family they will talk as well about you the landlord.Have another tenant now where she owes thousands and the writ is in a week.She has been waiting on disability approval from SSI.She wants to pay 700 but I have a judgment for a few thousand.I told her if she comes up with 2,500 I will let her stay otherwise she is out.The reason is at 700 it is not worth it to me.I would take 700 and then have to cancel the writ and refile eviction.With the holidays it could be January before I get her out again because of the courts taking the time off.At 2,500 I get most of what is owed and I don't have to recondition the property.Then I don't have to get re-rented during the Holidays which will most likely take a special first months rate to rent out.As a landlord these are the tough decisions you have to make on a case by case basis.We do inspections once a month.Then we know if we file eviction what kind of recondition costs will be needed to get ready again.Then you weigh the thousands in costs or hundreds depending on condition re-renting versus a workout with the current tenant.As far as evictions go most will pay the judgement.If they do not I am nice to them and press them to move out by the court ordered date.The property manager goes in daily and says a few more days and it all has to be out.This presses them to move.If they change the locks which they are not allowed per the lease then we have an impact driver that will push through the toughest lock in under a minute.Some will stay and wait for the writ but not many.I wait until they leave and then I "bring down the hammer" and file garnishment against them.I don't do this until they leave to keep them calm and make them think they are getting away with something.They leave the place clean with no trash thinking they are getting off scott free.

But when the buyer cannot secure the financing I would be hard pressed to say the agent did their full job.

I say no to an agent cause some times they will press you to a more expensive property for the commission involved.  

Word of mouth advertising can be very effective but if you couple that with doing some targeted advertising it will be not long before BP will be celebrating many more bench marks. 

Not so much to "take" his knowledge but to learn from him in that you will still use his services but you want to be able to do some of these things in the future when pressed for time.Most questions can be answered by just asking the person.

He is not staying there or paying utilities so he would be hard pressed to claim it as a second home.Probably nothing will happen if he stops treating the property as a rental by not claiming deductions, but what a can of worms could be opened if it goes back to a rental and he is audited.Remember, no good deed goes unpunished.

Without getting a good look inside you'll be hard pressed to know the answer.

I always wait for the comps I need to document the value and compare the risk since appraisals are non refundable so you want to get the highest chance of certainty you can get before you press the "order appraisal button."