I have to provide them with an updated insurance policy as the current one is about to expire and they will issue authorization to close.

ALSO if you know specifically what you want, your time frame it helps.The MLS doesn't have a INVESTMENT PROPERTY, AWESOME DEAL Button.so if you do your due diligence, it also saves them work and time.I make ZERO $$ from my investor.

@Patricia McleanIf this property is upside down (another words she owes more than the property would be worth) I would seriously walk away and passIt's important to "buy equity with subject to" because if a loan gets called it has to have some kind of equity to deal withIn my view $100,000 house is only worth 90,000 because it cost 10% to sell with commissions and closing costs, that is at zero profitSo I start to get interested around 80,000 and really interested around 70If you got a pretty house and quiet street it's four bedroom two bath and it's good market rent and the PITI payment is cheap,  that I might reconsider those rulesOne other consideration is to do a master lease or you leased the property for a cheap price and sublease it out for greater price

Maybe that's worth it to you.Each individual has a personal tolerance for how much savings are worth it and when they feel like its just easier to pay the tax.  

Along with an owner's policy, a lender's policy is available for any mortgagee, it will be required with conventional mortgages.To say that TI is not required by law, that is a bit off, many states define passing good title to a property as passing an insurable title.

Have your lender extend your closing date - this is totally possible - it would be silly for the seller to start from ground zero again, i.e. find another buyer and then wait for that buyer's financing.  

Investing in anything is about risk tolerance.  

The insurance policy the association carries and the policy that a condo owner carries both need to be reviewed and understood.  

It will help letting him know that it can be zero work for him just like stocks - he just needs to sign the check, and you will do all the work.

Usually, not always, in a sale transaction a seller proves they have good title to convey, they pay for the search, the owner of the policy pays for the policy, the more customary approach, but local custom prevails, it can always be negotiated.