Jump to content
The forums have been archived and are now read only. Years of great info saved for your reading pleasure. Thank you! Visit us on Facebook: https://www.facebook.com/NakedInvestor/ ×
The Naked Investor Forums
MJ Smook

Putting Seller closing docs into escrow

Recommended Posts

I have heard about lease option investors putting their Seller's closing docs into escrow at the time of entering into the deal.This is so that they don't have to go looking for the Seller when the time comes to exercise the option, and is an additional protection against a Seller not cooperating with the closing.. Does anyone have any experience with this? I am assuming that this somehow includes a deed. However, a Seller must also sign the HUD and that can only happen at the time of closing, so escrowing the deed seems redundant.

 

 

Share this post


Link to post
Share on other sites

Never had the fun of having to deal with that, but technically there are no closing docs created until the option is exercised. It's just a lease at the start, right. The option agreement obligates the seller to sell.

Share this post


Link to post
Share on other sites

MJ, I have heard of that, as well, but to me it smacks of seminar BS. Unnecessary, but it makes the person saying this appear wise, I suppose. :glare:

Share this post


Link to post
Share on other sites

Thanks Guys. If neither of you do it then I guess there is no need for me to.

I suppose. But if we end up in the same cell, the bottom bunk is mine.

Share this post


Link to post
Share on other sites

×
×
  • Create New...