I think I have it all figured out, as I have found that she reduced my usable sq/ft by 500 to account for my common areas, but did not do this for the comps, thereby producing an inaccurate price per sq/ft.

I am sure there are small print disclosures that lawyers have developed that make this OK.its just when you lead with your marketing that there is a warranty it does make the inference that hey you can't lose...These types of notes bought in bulk have very little market value bordering on zero in the secondary resell market  @?

The buyer should send over an addendum as well as the appraisal to the seller and ask them to reduce the price to $309k

The best (and more extreme) example of this was a crazy shrewd developer who sold a condo complex in bulk, then retained the parcel for the parking lot and other common areas in his ownership to sell to the buyers later (basically as collateral for the deal).

 @Steve FollmerWould you mind sending me info on the bulk portfolio deal in AZ to [email protected] Thank you!

The subject of notes also bounces around, you can say the real basic aspect in a couple paragraphs, then explain different types of notes, how interest is applied, how principal is reduced, how those can be changed and the effects of additional payments, how to figure per diem interest, how liens are properly perfected, collateral and lender or note holder's rights, borrower's rights, ...... and after 21,000 words, still not mentioning buying notes as to due diligence as that ties into all that has been written, nor have I reached buying in whole or slicing notes up, or paths as to exit options and the determinations that might be considered.

I have had to reduce our 401(k) and contributions to the 529 plan for the kids to make up this difference.

my rule of thumb is if the street has a center yellow line on it than I tend to look the other way unless it is an IMPOSSIBLY great deal to pass up. maybe busy streets dont have lines in your area, but point is that it is very hard to decide how much a major street effects the property. just because an appraiser or the county gives it a 10% reduction in value doesnt mean that you can reduce the price by 10% and assume that it will sell.

That's by-far the best piece of advice -- build a box.I'm certainly no expert, but here are some other things that I've learned about reducing new construction costs:- To reiterate from above, build a box -- reduces framing, siding and roof complexity/cost

I put out the normal bandit signs and have received some leads but I've have the best response with driving for dollars...its also helps that my city has about 1800 vacant properties so a bulk of my time goes to yellow letters.