Question for Lease Optioners - Posted by bh

Posted by Lynn on November 04, 2000 at 09:53:05:

You can use an escrow service. It should cost around $75 setup and $8-$10 per month. We much prefer to make the payments directly to the mortgage company.

Happy Investing!

Question for Lease Optioners - Posted by bh

Posted by bh on November 03, 2000 at 17:41:42:

I’m working towards my first L/O deal. Got a meeting with the sellers tomorrow who want to get in their RV and get out of Chicago before the winter hits.

So, I started going over all the questions that may come up when I realized that I don’t know how the actual monthly payments play out. Do you make payments to the sellers, or is it better to pay into an escrow account?

If escrow is the answer, how much does it cost to set up and maintain an account and who do I contact about doing this?

Also, any other general advice for a newbie honing in on his first deal is greatly appreciated.

Thanks, in advance for your help.