Getting Paid At Termination Of The Lease
How does one get paid at the termination of the lease option? -->
How can you structure the deal to avoid a double closing?
Do you need a sales contratc in addition to the lease with option to purchase?
Do you just assign the sales contract or lease?
I am asking these questions to ultimately ask, how will I get paid at closing? Will the title company just make out two checks one for the purchase price and one for my net after purchase and closing costs?
Thanks in advance for any replies,
E. Dickens
Depends how you structure the deal and how you and the ultimate buyer instruct the title company. You have title companies do your closings? I did not know that they had taken over that function in your area. Was bound to happen, just a little ahead of the curve.
Being a little old fashioned. When the lease is up, I am the first person who knocks on the door and asks the age old question. What are you going to do? Buy, Move or Vacate?
Upon the receipt of the proper answer I adjust and move onto the next step.
I am a great believer in over simplification. Of course I have prepared for this moment and I am ready to go to the Title Company to set up his ownership, new loans whatever, or I am prepared to assist him on his way to his next residence or arrange to assist him as he vacates. Whatever.
In Negotiation you must always be prepared for all variations. There is profit in each.
clicking my beads Lucius