Also, homeowners in default vacate their houses for any reason they see fit...mostly because they are done caring about the property...they have to leave anyways, why not move on with their life before they bank evicts them.It is also no concern of the investor why the homeowner chooses to move out.If you can swing it timing wise it is a good deal for several reasons...the house doesn't sit vacant....you have somebody living in it that knows the deal (you disclose to them exactly what is happening and charge them a monthly rent below market value)...they can show the house for you if need be...the utilities get paid...and the investor can make some positive cash flow while negotiating...let's stop pretending this is hurting anybody...and most of all...dont make me think for a second we are concerned about the lender losing money because the investor is profiting....its the homeowner in default on the hook and nobody else.

From what I've been told by BK attorney's the bank can't pick and choose which filings they accept.

Let me paint a picture of my sistuation.

Politician, many homeowners will not choose to pay for a home that is worth less than 40% of what they owe.

And _I_ didn't choose the price range, SHE did, and still refused to list!

Tell them you expect them to move out enough in advance of Nov 1 that you can do any cleanup, painting, etc, so the new tenant can move in on Nov 1.

The verbal agreement was for them to help around the house, (Gardening, painting, etc.) pay rent ($500.00 normally $2000.00 for that home in the area) and their own utilities.

Buyers can be very picky and choose the best of the best deals so we are going to have work harder to find the deals that create the higher return for the buyers.

I recommend the thread Rental Property Questions & Landlording Issues » What type of white paint do you use?

ask and ye shall receive ) My bid at 45% of ARV ( minor repairs of fresh paint and clean carpets ) was approved...