In fact, often “fast cash” gets construed to be expensive, but if you’re receiving “fast cash” through the sell of an item that’s constantly and forever losing value, it’s more cost effective the sooner you sell it for fair market value.People get mesmerized by the big numbers involved in real estate and how unattainable those numbers seem, but then fail to put into perspective what percentage of our luxury belongings and expenses truly are in comparison and what could have happened if we designated those funds into investments instead of material possessions.- The $2000 TV hanging on the wall…that’s 4% of a $50,000 property that around my town in central Iowa will buy a basic, move in ready, two bedroom bungalow.- A $4000 credit card balance someone racked up from the past six months of excessive shopping and entertainment…a whopping 8% of a $50,000 home.- That $6,000 family vacation to Disney World is a staggering 12% of a $50,000 property.- The $12,000 boat sitting in the neighbor’s garage he only takes out 4 times each summer, it is basically a 24% down payment for a mortgage on a $50,000 rental property.Heck, even the PS4 that I just had to have for some late night Call of Duty action and spent probably $700 on including a couple games and accessories is just a hair under 2% of the total $36,000 purchase price of the investment home I bought – and I actually find that sort of sickeningly interesting if you really put that into perspective.

Finally, I am certain a lender would not underwrite a mortgage on the property if they possessed knowledge of the present use.My advice, for what it is worth, would be to consider moving into a better living arrangement and under no circumstance consider purchasing this problem from the current owner.

This then leads to what John mentioned, assuming the option is to be taken and having possession of the property leads to foreclosure proceedings under state law.

I guess I'm OK with the time to clear, though I'd not be surprised if the delay is to allow Cozy to make some money on the float of having millions in their possession for a few days.

The comments to live in a RV also make sense if you are into it, though you pretty much have to give up 90% of your possessions, clothes, etc. 

@Chris DeeAre you looking at taking possession? 

Cost for me to handle through the Writ of Possession $750    -No response from the tenant and the eviction was filed on 2/12. 

Although a written agreement is not necessary where the collateral is in the possession of the secured party as a pledge, a security interest is usually not enforceable unless there is a written security agreement, signed by the debtor, describing the collateral.

Ask for immediate possession before settlement.  

Rentals, companies, stocks, art work, collectibles, etc, are all purchased today for their future value.