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Finance > Real Estate > Finding the Right Pieces to Solve the Puzzle
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Article rating : 0.00, 0 votes. Author : Bryan Benson
Say you have a lease-purchase option on a property and a tenant-buyer in it. The tenant-buyer is wanting to purchase this in about three months; and now all of sudden you are having difficulties finding a closing attorney who will close this loan for you without the initial security being in your name.
My question (and the question of the day) to you is: Why aren't you getting the deed?
That is right. Why don't you just get the deeds instead of doing a lease-option?
I know what you are going to say. The current owner doesn't want to give you the deed.
Well my friend, then it looks like you need an attorney. You just need to get an attorney and get an attorney that will ramrod the deal and you just take the difference between what you're buying it for and what you're selling it for, just show it on the HUD One as a second mortgage payoff to you.
Now after you do this you realize that your seller is going to wind up deeding it to your buyer?
If your seller is okay with this, then you are in business, but your closing attorney is the one who may have some issues. If that happens you have only one solution-get another attorney!
In reality, you don’t actually need an attorney. A title company can do this action for you (and you might be better off).
It really boils down to getting the right people to work for you. Getting the right people on your team (from the very beginning) will make your life go much easier. All transactions will be smoother, and you won’t have any surprises with people along the way. Think of it as a support system. Think of it as networking. Wouldn’t it be nice to always have the right person to contact for any given situation? That is what networking is, and that will help you achieve your goals. Having people from your city, investors, contacts, attorneys, appraisers all on your side would be a dream come true. It is also an easy to achieve reality that you need to put in place so you are not alone in your endeavors.
About the Author:
When it comes to real estate investing, I highly recommend information from Ron LeGrand . For valuable information regarding investing in homes visit http://www.RonLeGrand.com. You can also find useful investor resources in the free newsletter at http://www.MillionaireMakerNewsletter.com.
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