Fourthly, while many people possess expertise in many areas be wary of:Advice from strangers on the internetConstruction estimates from your agentARV's from your contractorLegal advice from your accountantTax advice from your lenderand finally but not least,Insurance advice from your hot tub manufacturer's rep :)

The attorney realizes the Deed of Trust error and creates and records in the public records the new Deed of Trust WITHOUT THE SELLER HAVING IN POSSESSION THE ORIGINAL PROMISSORY NOTE.In Colorado, the loan position is determined by the recording date and time.

It looks like I actually may have possession by the end of October/ mid-November.As a point of reference - noticing began last February....we filed in court in May. 

Does a purchase of the taxes eventually turn into possession of the property after a set amount of time?

The current renters leave 1 Oct and my wife and I are interested in taking possession of the house, barring any glaring issues after an inspection.

How do you like that theory of resolution, issues of borrower agreeing and making them feels safe while you briefly take possession back to cure aside.

If the buyer defaults, you have to either get them to do a deed in lieu of foreclosure and give you the house or you will have to foreclose to get possession.

There should be a provision in your lease about "Abandonment" giving you the right to gain possession if its vacated without notice.

Need to find out if they are seperated or divorced, if any on them signed their name off the deed at one point, or one possessed a Power of Attorney over them at any time and that is why only one came up.

is he in foreclosures or tax salewhy he is selling, make sure you get the real reason (often the seller will tell something that is not their real motivations, you need to dig to get the REAL reason he is selling)what's the rent, what do the leases look like, how long have the tenants been there, when does the lease expire, what type tenants was there in the commercial space  (their business)what is the highest and best use of the property, can the zoning be changedwhat's the potential for a change of usewhat is the condition of the apartments, are they quality tenants, how long therehow much contract candy (incentives) can the seller provide; seller financing, can add (stuff - a car, truck all the good stuff in the buildings, contribute cash to buyer at settlement, possession with a delayed settlement, principal only payments on the seller financing- that is no interest)After I feel comfortable with his answers and I feel he is being truthful with me and that I understand the property and his motivation I may consider making an offer.My problem is that I am involved with his problem and I don't want to make a mistake!