JerseyJeff 0 Report post Posted March 30, 2003 1) When in a co-op lease agreement, assuming the option money will be payment for our services, is a check written to us from the T/b? Is the check written to the Seller, signed, and handed to us? Or, is it best to separate them, and have the T/b write a check to the Seller, and have the Seller write a new check from his account for payment to us?How do others handle this situation? 2) If I have a co-op lease agreement with a seller, can he still try to sell his house himself? If not, what if he does? What if he had posted an ad prior to our agreement, and someone is just now calling from that prior ad, can he persue selling the house with them? 3) When doing a co-op lease agreement, do we care about comps? Is it good for general knowledge, but not as important as in a sandwich lease? Thanks for the help, JerseyJeff Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 31, 2003 1) I have the tenant/buyer pay me directly.2) No. If you are setting up a Cooperative Assignment, the seller has agreed to allow you to work a deal for a tenant/buyer. His property, then, is off the market and he/she will not be "competing" with you to see who sells it first. You could always allow a home to be on the market while you, too, are trying to work a deal. But, what would be the point?3) Yes, we still need to know property values, regardless of the type of lease purchase deal we are setting up. How else can we set terms? Share this post Link to post Share on other sites
