The interest rate and all that just indicates what the note was made out for at the time.

The paper trail indicates he knew exactly what he was doing and never intended to make good on the note.I spoke with the BK trustee's counsel and he said that if I were able to secure the note and prove that the property has no equity (easily done), the BK court would abandon the property, which would then allow me to proceed with the foreclosure.

You'll have to bring the other 30-40% to the table, but the terms are generally pretty good -- typically 1 year interest-only with 1 or fewer points and 8% or better interest rate.Start visiting the really small (fewer than 3 branches), local banks in your area, and ask to speak with the head of commercial investing...

My wife and I began renting a one-family house in New Jersey in February 1986 and have paid rent every month without fail and have maintained our tenancy as model tenants without incident.We had a one-year lease for the first year only after which time we never renewed and as such have been month-to-month tenants for over 24 years.Now our landlord wishes to sell the house and evict us, and it's causing stress and anxiety every day.I am here for information to learn if our landlord:1) must by law sell it to someone who will continue to rent to us; or2) will be able to force us out; or3) if this is a case that could go either way.New Jersey law states that one cause for an eviction action is when "the owner of a house or building with three or fewer apartments wants to move in or is selling the house or building to a buyer who wants to move in."

Further, the fact that the property is currently rented gives the ability to indicate and inability to do a walk through of the property.The low counter offer may simply be in an effort to close quickly and move on.

To test that, you actually have to run water for several minutes down the drains and make sure it doesn't back up, indicating a blockage (tree roots, pipe collapse, foreign objects, bad vent, etc.).

Our market study indicates 18-47 market rate, multi family can be absorbed in our location per year.

Development is about 17 years old, and indications are it is pretty well run. 300+ units, community park and pool, and some common landscaped areas.

-Unique to lead buyer (lead only sold to one person)-In a neighborhood/area indicated by buyer as desirable.I'm fairly good at lead gen, and I think I could accomplish that, but I have absolutely no desire to be a "wholesaler" for a number of reasons.

I believe many short-sale addendums contain a clause that says the property can not be leased back to the owners.You'll want to check the document that you sign that indicates that the sale is an arms-length transaction -- that will tell you if leasing back to the owners is prohibited (if it doesn't say that it's prohibited, it should be fine).