More so with non-agency loans with manual underwriting since you have to see if the underwriter will accept the loan.

If they don't accept the full amount as a note sale/assignment and take that borrower to foreclosure instead, that bank may need to explain why they refused and took a borrower down that road, regulators would want to know why as well as any judge.

Prepping the surface to create an acceptable substrate woul have been labor intensive.

Sorry I couldnt give you dollar amounts but to accept estimates via people on an internet board isnt in your best interest anyways.

The listing agent isn't the one accepting the offers.That being said, I could see how this would be a problem that HUD would like to avoid.

If we accept the tenant then they will have to sign the lease to get the keys.

What I am wondering is, would it be better to accept a 4% ROI and feel comfortable that I know what the HOA is up to, I approve, and that things are probably going to be good there as long as the national economy doesn't falter, or, is it wiser to sell the thing for a clear $160k after expenses and parlay that into two SFDs in a different part of town that could maybe bring in $2000 gross.

., That's what I had in mind but I'm not sure if the bank would accept that as stable income.

I just think the notion that you will most likely owe 50K for something that is worthless or near worthless is not accurate.If you are going to accept a job that you don't need a college degree after you get a college degree, than no, you should not have gone to school.I suppose "employee" is a 4 letter word around here to a lot of folks, but I would need millions of dollars of assets to return what I make at my day job as an employee.

He explained that he couldn't wait on his money and so decided taking a loss was better than his other options...when previously had given no indication to his lowest acceptable offer - which I wrongly assumed was what he paid for it.