Keeping a property that you are uncertain about is always risky because you know the value today but what about tomorrow.

Hi everyone! I made my first post just the other day and was so pleased by the quick and informative replies I figured I would try another one.

My husband and I have the opportunity to purchase a home at a very good...

Most of these terms seem pretty standard, but some are unusual for a HML, such as the 3-yr term, no points, no appraisal, no credit. 

As to the seller of the house, unless there was some unusual language in the purchase agreement or warranty offered as newly rehabbed house, they have no responsibliy since I assume you had an opportunity to inspect during a due diligance period.

The point is, delays are not unusual in short sales and the servicer and mortgagee typically do not have contract language which puts them at risk of entering and losing a contract for lack of performance unless they desire for that to happen.

A 20 day late fee is very unusual and way too long. 

There are several possibilities;Seller wants to sell but has unrealistic expectations; Time will address this.Seller does not really want to sell but if they get the 20% premium, will let it go.Some people just like to start high.Recent unusually high sale that they are trying to to take advantage of.

It left me a bit uncertain about my current plan of finding a 2-4 unit building for my first deal.

I found that unusual because usually the sellers will you leave the window blinds.

Me, I was the technician, making sure every "i" was dotted and every "t" was crossed.In my career, you could say I have seen everything, from the mundane to the unusual to the completely bizarre.