@Ricky Butler my guess is that the investor who "Bought" it in 2012 defaulted on his contract and has no further rights in the property.

RE = hedge to inflation, debt becomes cheaper with older dollars.Cash = hedge to deflation, we can acquire more assets.Gold, which I love, because I'm an Austrian believer, really doesn't hold as much necessity now.The good news is, if you ever hear the mainstream media throwing the "D" word around, holy smokes things are really bad, or it's a smoke screen for something else.The even better news is that the American economic nightmare is deflation, because that would force them to actually default, or take up "Helicopter Ben" Bernanke on his last ditch effort of saving a Keynesian economy.

It means there is less chance you will default and he winds up with the property again.

I and my partners stepped in and purchased the property from him, to stop him from going default on the loan.The question is: What do you want to do with your real estate business?

@Heather Colley Seller carryback is when the seller finances a portion of the sales price (just like the bank does) but is in second position (behind the bank) and likely won't receive anything if you default.

Multiple times a week these days.I highly recommend it because it also takes into account the PMI (if you put less that 20% down).As for the default rate-- up it by 1% to play safe.

The multi-member LLC defaults to a partnership unless corporate tax treatment has been elected.  

I have pointed out the legal and practical reasons why someone who filed bankruptcy is less of a risk to default after the filing than before.

Put a value on your rental, and how much they lend you make it a percentage of equity you'll give to them in a default.  

This comes up because appraisers on a purchase transaction often "default" to the contract purchase price, whereas during a refinance it's more of a "ok Mr Appraiser, tell us what you REALLY think" opinion of value.