Also, that is a smart idea, and definitely something I should have done to ensure this was a legitimate deal.

I asked about the non-disclosure form and was told that it was to ensure that we don't bypass one another during the transaction.

How are you going to ensure that they're actually showing up every day and devoting their time and attention to your job rather than other jobs where they have to be more accountable?

Joshua answered your question, but I just wanted to chime in about LLCs and how important it is to ensure you're protecting your assets.

Start with a fraction.2) Use the resources on BP to LEARN as much as you can.In addition, I would ensure that any financial advisor you work with is bound by Fiduciary Duty - meaning they are legally required to keep your best interests at heart.

As always, the money is made when you purchase, so I would have to do the due diligence to ensure that the fallback option is truely viable.

Ensure your odds of getting paid!  

Getting them the full net proceeds amount of 38k would definitely make them happy, but I'd ask if they could make do with slightly less (maybe $25K), depending on what they need to do to ensure their financing goes through on their new home (they were approved for 400 and bought one at about 300, so i think they should be okay).

It will be the appraiser's job to ensure the property is conforming to it's use in the valuation.

Things are quite harmonized within Europe for instance -- both its markets and legal system; they benefit from and have been implementing various schemes to ensure a seamless unified functioning market there for a long time.