Lease options in CA - Posted by Tony

Real Estate Investing
1

Posted by Tony on April 18, 2001 at 22:49:12:

It seems like getting an attorney to hold docs sounds good to me. It can never hurt to have an attorney prepare the documentation. Every state seems to be different on real estate laws, docomentation, and ect.

Tony

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Lease options in CA - Posted by Tony

Posted by Tony on April 18, 2001 at 19:27:43:

Bronchick recommends to have the seller sign closing documents to be held in escrow under a lease option scenerio , so you can excercise your option to buy the property. You would have a hard time getting the seller to sign over a deed or a bill of sale if the seller were to die.

I think I have called every title company and escrow company that I can find, but they all said, " we have policies not to hold documents"

Anybody in Southern California know of any title companies who will hold closing documents or perhaps another solution?

Thanks

Tony

3

Re: Lease options in CA - Posted by Chip

Posted by Chip on April 18, 2001 at 22:01:28:

You can have an attorney hold them for you, pay him a small fee each year. It might help if you offer to have him do the doc prep or something so he can make some other money on it.

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Re: Lease options in CA - Posted by Brad Crouch

Posted by Brad Crouch on April 18, 2001 at 19:43:13:

Tony,

Get the information from the infomation operator for a company in Orange County (area code 714) called Loan Serv. They handle the escrowing of documents for a fee, but will not sign any agreement of committment for their services.

Most California escrow companies have stopped providing this service years ago.

Brad