Check the licensing laws to see where you would stand.

It's best when the agreement is signed by both parties (buyer & seller).

IMO, Ron LeGrand was the worst part - I just get a sleazy vibe from him.

This presupposes the loan will sell for a discount and the discount will be suitable for two different parties to get involved and make some type of profit.

@Jacob Elbe "So if you and the seller come to an agreed price it doesn't matter what market value is.sorry I couldn't be more help"In a situation where unrelated parties are involved, you would be correct, FMV might not be the primary factor.  

In commercial it's not just about one deal but a lifetime relationship that is beneficial to both parties.

Third party management companies have an interest in maintaining their contract so they will reach out to their network.

It happened on a Saturday and Monday was a Holiday so I had to wait until Tuesday for the part. I

Having all such parties on the hook makes collection activities against such interests easier.Another aspect is simply to reduce risk, loans are made on a joint basis giving a lender the option of seeking repayment from the easiest source of funds or assets that might be available.

So, they stand to recover only what they can get from the property likely in some rental capacity.