But if the settlement/judgment exceeds the value of the value of your property they can reach over to your house or other assets to cover the difference.It's not a common thing, but it does happen.

When they move if the apartment is ok they get the whole amount if not I deduct and provide settlement charges.

So, we seeing if we can work out a settlement without having to go to court or something.

The lawyer does the title search, creates the settlement statement, creates the docs for the deal, and then registers the deed and lien with the County.

He's lucky I didn't ask for all that in the divorce settlement because the judge was not pleased after learning he did that.

Some of those expenses would have been considered normal direct expenses related to the purchase and placed on the settlement statement where they could have been paid.  

Learn these formula first.Your mentor should explain the many methods of negotiating - second stage negotiation - hybrid offers - controlling clauses - delayed settlement with right of possession and subject to the existing financing - built-in extensions - and assignments.Power Prospecting - where to find the real estate that will produce profits - how to make offers before looking at the property - working tax sales, foreclosures, expired listings, FSBO's, advertising - radio - internet - TV - agents -fiduciary buyer brokers.To mention just a few of the things you prospective mentor should be doing for you.Good luck - Charles

One of my houses is in a development that received a letter from the HOA about a settlement with CertainTeed for houses that were roofed with CertainTeed. 

Once you use your HELOC for a down payment is that counted against you when getting approved for a loan just before closing/settlement? 

In a partnership there is always thoughts that someone is not doing their fair share.......they get messy.This is a great business, it has lots of moving parts that you need to be aware of them.Lots thrills and negative aspects (bad tenants, bad loans, expensive lawyers, unreasonable housing inspectors, rent court, housing court, unproductive real estate agents, IRS, recording keeping.....etc.)And those THRILLS........ the elation and joy of sitting at the settlement table and watching, almost in slow motion, as the title officer slides your assignment check across the table, you slowly and with high anticipation turn it over and read your name and the dollar amount.