Remember To Do This On A Lease With Option To Buy…

By
Mortgage and Lending with Berkshire Lending, LLC

small brett pic Remember To Do This On A Lease With Option To Buy...

When you give someone option money at the onset of a lease option agreement – you are going to have to prove you gave that money when you get a loan to buy that house.

How do you prove it?

If it’s certified funds you need to keep a copy of the certified check.

If it was a personal check – you need to keep a copy of the cancelled check (front and back).

Don’t give cash!

Anything less than this – the underwriter will not give you credit for giving that money.

That’s it for today!

I hope you have a great day! Thanks for reading!

Brett

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Comments (1)

Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Brett Sampson Highly valuable advice and the option-lessee should absolutely have their attorney review all docs before entering in a Lease-Purchase. Good Advice.

Mar 02, 2015 12:02 AM