You can recover money owed to you, or get a Judgment for damages, etc.When you go to court a Judge does not want to hear "He said-She said" scenarios.  

Also, where on earth are you getting cap rate comps to declare, " That cap rate is pretty comparable to those in the market i'm looking."? 

I can only assume it is like Spokeo for the U.S. but International Courts wouldn't show a petty theft arrest in Bangkok unless it was an international matter I don't think. 

The judgment must be recorded at the register of deeds as well.After the default notice has been served, and not cured within 30 days if it is the purchaser's first default of the year, the seller may move forward to cancel the option and the purchaser's equitable right of redemption by either:a)filing an agreement terminating the option, signed by all parties, at the register of deeds; orb)obtaining a court order terminating the purchaser's option, and filing the order with the register of deeds.What if the seller defaults?

That seemed fair but a huge expense that could potentially eat into their profit.After hearing about the run-around I looked up the court docket.

Look for steady W2 income, look for a clean criminal record, look for no court judgments, get input from the prior landlord, etc., etc., etc.These are human beings and they are living the human existence.  

Just a down payment may not be enough to see you through difficult times like having to pay your mortgage and court costs to evict a non-paying tenant, major system failure such as HVAC replacement, etc.  

Just don't call it that, I don't want you to end up in court.

I know they broke lease and ended up in court, but I'm not sure what ever came of it.

Ideally, the association manages the premises and finances (but the reality may be not so much...)The declaration by laws and such are key, and they prevent all sorts of things (like you working on items outside your unit or even renting your unit).