enero2k 0 Report post Posted December 27, 2002 I have a question regarding the closing on a lease purchase deal with a tenant buyer in place that excercises thier option with you. How does the closing work? From what I understand, you would sign all the documents and close with the seller first and then sign the documents with the tenant-buyer, transfer the funds from the tenant-buyer to escrow or a closing attorney or title company and they will distribute the funds to both the original seller and then cut a check to you for your profit. Is this the case or do you need to obtain the funding first? Thanks! Share this post Link to post Share on other sites
MichaelC 160 Report post Posted December 27, 2002 Hello enero, and welcome aboard! In a typical sandwich lease deal, the progression of how the closing takes place is pretty much as you described. There may be some variances depending upon the specifics of a deal and local customs. However, your position in the middle of the sandwich usually does not require financing. The tenant/buyer, the end user as it is, is the one who needs to deal with the lenders. You sit there looking handsome and smug, and after the dust settles walk away with a check for $_______ (fill in the blanks). It's an enviable position to be in. Share this post Link to post Share on other sites
enero2k 0 Report post Posted December 27, 2002 Thanks for the follow Michael! Share this post Link to post Share on other sites
MichaelC 160 Report post Posted December 27, 2002 You're welcome. Hang around when you can. You're on the cutting edge of something wild and wonderful here............at least we at The Naked Investor think so . Share this post Link to post Share on other sites
