For a homebuyer with a moving truck loaded and ready to roll, this would be a real headache.Delays at the close could have other negative consequences to the borrower, such as the lapse of a rate lock or the loss of certain tax breaks.The new forms disclose the full title insurance premium, which could be misleading because the premium is often discounted.Line numbers have been omitted from the new forms.

After the 1st year, the rate depends on the % I would want to lock in at and it be fixed.

That should weed out about 75%If they want to lock up the property then require a Nonrefundable deposit. 2-5K works but you can always percent out a portion of your assignment. 

I can do 10 draws and lock in at 2.75%.

Yes this is the only bank we have approached but are now locked in since we are in the final stages of approval and they just sprung this on us.

That's my personal opinion were I another owner in the neighborhood and couldn't rent because the first 2-3 landlord in there essentially had become the good ol' boys club and unless/until they sold I'm locked out.Personally I'd completely vote against this even if I was the only LL in the neighborhood and would have the monopoly.

Senad until the rate is LOCKED you do not have anything.

I have a sense it's worth about $200k and I could probably get it for $140-so it would be a good deal-IF I can resell it.What I would like to do is get a broker's opinion of value before I get it locked into a contract.  

My original plan was to lock them up with a contract and then find local realtors to help find a local buyer and split profits (or something).  

We usually post a notice on all properties the day of the sale and change locks on vacant properties within 3 days.2.