My husband and I are thinking w / option to buy a rental house which is one of the buyers Escrow contract? I downloaded the forms for the lease with option to purchase, but I was informed that we should do an escrow agreement of the buyer. What exactly is this and how can I include in the agreement?
Let me first assume that you do not buy this property on a contract, which is another animal all together.
Lease with option to purchase is a great way to buy a property. By contract buyers "escrow" I guess you talk about what happens to the option money for the duration of the contract or vendor credits you're singing for the Contract. This just needs to be stated clearly in the language of the document. A real estate investment should be able to help.
Posted on August 23, 2010.
