It's a called a "waiver of deficiency" letter and do not close without it.Do not believe anything the bank says unless it is in writing.You also have to know which department you are talking to.You can get conflicting information depending on if you are talking to customer service,collections,loss mitigation,the short sale department,bankruptcy department,and the foreclosure department.In big banks these are all separate but in some local to regional banks one person might be handling multiple departments.They will all look at it differently with various goals in mind for the the loan file.

Hardmoney lending is sort of like being a limited partner in a real estate partnership with a little more skin in the game.

None of them want to lose a customer.

I'm used to bad customer service in this industry, but my experience with HUD attorneys (and attorneys in general) has always been good...sucks that even attorneys these days are reflecting bad on the industry.

Once you are on the investor side, I hope your customers fall for your homes like it seems you have on this one!

Leon YangThanks, El Monte is nearby, I'll check it out.I didn't know that, I thought granite was very expensive.Do you measure and have them custom make it for you ?

The high ones sometimes have large advertising budgets that some customers have to pay for.

There may be some local issue or state tax issue, maybe a transfer tax applied to non-owner occupied, don't know, but Steve makes a good point, state your initial intentions.Such a question is not part of a quit-claim deed to convey title, so what ever it is that you have asking the question must be related to local customs and requirements.

You might be a little late to the buy-and-hold game at this point.

He might be listing higher than what he'll get, but it's a numbers game and he may come out ahead if a certain number of the props sell closer to asking.