Keeps going and going and going!

No, not the energizer bunny, my Hobble Creek property. I sent the tennants the extension agreement that raised the price by 30k and the monthy lease price by $400.00. The tennant called and said he was working on a loan and thought the price increase unfair. I told him I would only raise the price by 15K but the $1840 was not negotiable. He thanked me and said the loan should fund by the 18th. I got a check for the remaining $400 that he owed me on the lease payment. I told him that if the loan didn't go through, the price would go the 315k and he would have until May to sell the house. The appraisal was last week and it appraised for 360k, not the 375k he needed to get his own loan. Because he has subpar credit the lender wants at least an 80/20 loan to value ratio. I let him know that if he is 1 day late on the payments in the future that the option immediately ends and I take ownership of the house. In the mean time he will try to sell it or get a different loan. The most ridiculous part of the whole ordeal is that if he would have put a small deck in the back and put up some fence around the yard it would have appraised for what he wanted. Also, if they didn't have so much white trash yard "art", if they hadn't broken two of the windows on the front of the house, cleared out some of their crap from the house, and towed away a few of the broken down cars out or the driveway it would have been a breeze to get the appraisal to go through. It will be interesting to see if I get the house back in February because I know they can't afford the payment, or if in May they still haven't been able to sell it because they don't realize their stuff looks so trashy and anyone walking through the house will run on the way out. It will be satisfying to clean it up, finish the landscaping, and put up a fence and sell the house for 399k. I'll keep you posted!