(He has to pay back what I paid on the construction loan due to his delay according to our contract but I won't exhale until I see the check).I estimate that the built-in equity is closer to $60-80K than $100K but will know better when I get the bank appraisal related to the permanent financing.But I now have a three story townhouse plus basement in a gentrifying area of Philadelphia and a signed tenant who is scheduled to move in in June.

it seems so hard to believe that anyone didn't see the real estate correction or crash coming like a speeding freight train!

I would think that the person who bought it would see the value in staying put.I am reducing the value of the business because I want to sell it quickly, but I want to keep the building occupied and making money on the rents.How would I structure a deal that keeps them in the building?

As to the original post (OP), suggest you reverse engineer a few properties to see the sequence of acquisition of title, encumbrance by trust deed or mortgage, trustees deed upon sale or court order, etc.Right off the bat you'll see that there's a difference with trust vestings used to identify the beneficial interest of a securitized mortgage, as opposed to an estate planning instrument or investor using a title holding trust.

Really great deals can be hard to find when you rehab-to-rent or fix&flip, so I just couldn't see the intelligence in handing over a great spread to someone else for a little quick cash.

So I just don't see the unexpected need for contingency.

My last deal I looked at (that I ended up purchasing), I did the same thing... e-mailed the listing agent and asked to see the property, telling him that I was already working with a buyer's agent.

You aren't searching for comps to your subject as much as you are to see the differences in prices compared to other sales that sold in that time period.

If you put in your offer and they counter, you'll see the math.

See the math?