The money is secondary to the emotional, physical, or other driver that creates the NEED to sell.

WowHow much damage do you estimate ?

Alas, we didn't recover our rent, damages and legal fees even though the court awarded in our favor, as it is nearly impossible money from a tenant who has none, especially after they move out of state.We also had a tenant abandon a property once and that required us to follow a different procedure.

Save that for when she damages the place on the way out.

If you use the deposit now you will have nothing to hold against any damages at the end.

I always suspect freeze damage, especially for hot water heat systems which can have both horizontal and vertical runs that hold water.

This is even true when we have forced significant equity into the property - both through physical improvements and operational / fiscal improvements.

If they sign a lease and pay the first month's rent by X date then it becomes the tenant's security deposit, if not it is forfieted as liquidated damages.

Your quote sounds high, of course I have no idea how extensive the damage is.

After the property is taken as collateral it becomes "other real estate owned" or "real estate owned" (ORE/REO) which is apart from bank owned property that is the physical bank properties, main and branches.