In some cases, I've had a buyer lined up by the time I close.

Well, when goes down that's bad for buyers.

The article is off because it is comparing two different types of buyers.  

When I told him it would be a very bad time to sell the mortgage notes as there were almost no buyers, he said he didn’t realize we were investing in non liquid assets?  

Underwriting does their thing with the new buyer. 

If you are going to school, I'm not sure you'd be making enough money to qualify for a mortgage.Prices in London are nuts and the real estate system in Scotland is not in the buyer's favour as they do sealed bids.I got started in grad school, but had my parents co-sign a loan (for which I made all of the payments and I had the down payment). 

I also wondered, during those 20%+ interest-rate mortgage days, did some segments of the market go 'no-bid' - in other words, did cash buyers have a very advantageous circumstance? 

What off-market really means is that the seller refuses to sign an exclusive listing agreement with an agent but tells the agent if they bring them a buyer, they'll payout a commission.

In a market like this where properties are sitting a bit longer, buyer demand is kind of stagnant, many appraisals have been coming in lower than anticipated.

I just did a deal like this and the buyer's insurance gave her a policy as long as she agreed to fix the K&T within 60 days which she is doing now.