@Kenneth Guin, I would have thought that sub2 is the DEFAULT position when buying property, meaning that it is always understood that any pre-existing mortgage would be paid out by the Seller upon closing.

Other than I should have made absolutely freaking sure I understood what was happening at closing...

@Bryan Hancock One of the benefits of the old rules for accredited individuals was that they were easily understood.  

you beat me to the punch about Ocwen.Back in the day when things turned I was going to set up a short sale division in my Re company... so I thought I would do a few myself so I knew and understood how they worked then turn them over to my team.. well first one I try is with Ocwen it was such a pain I just completely gave up on the idea..

Every written word in your offer is important and should be understood.

It does require some different approaches to management at times but if the process is understood and planned for it is great.  

Since 2008, the government has all but halted lending in the US by adding appraisal management companies, so loan officers could no longer speak with their appraiser, the 2010 GFE, biggest joke ever - 4 pages that no one understood, including most loan officers, and the Dodd-Frank junk that all ended up costing consumers an average of 25% more per loan - over $1000 additionally in fees.  

I understood what Minh was trying to say about rental increases and appreciation. 

I went though a half dozen agents before finding one that understood the need to move quickly.

And Chris, you can't structure an option without understanding the applicable laws, there is no one form or method, so don't even look for that, it must be understood.