I will agree that is pretty cut and dry and I'd never allow a seller to accept a PNS with that type of language in it.

It seems cut and dry that a property in sold straights should be comped against like properties, not ones in major distress like the ones selected on the report.

It's difficult to make a snap shot decision in favor of condo because there are so many variables (common area amenities, age of roof, dry rot on siding, etc.).

If the land is contaminated, you may never be able to get your money out without the EXCESSIVE clean-up costs.

Anytime a tenant has complained about it being too dry in the house, I tell them to get a small aquarium.

Providing credits in rents will be subject to a future appraisal issue of fair market rents at that time and only the amounts paid in excess would be counted for financing pruposes, so the buyer may not end up with the expected equity to get financing.Use a lease and a seperate option agreement.Much has been written here on Lease-Options and credits, do a little searching for more on the issue.....:)

Foreclosures are dried, coupled with the 15-30 day OO periods things are pretty slow on the rehabs...

If not, at least you have received more of a cushion to coverage damages in excess of deposit3.

Tenants always expect rent increases, but never expect to have to pay for what they had previously received as an "amenity".If she suspects excessive water usage, she should do a maintenance check to ensure that the problem is not a plumbing issue such as running toilet or a leaky pipe.    

But it will be in excess of the amount you expected.