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Forums » General Real Estate Investing » Deed in Escrow

Deed in Escrow Subscribe to Deed in Escrow

5 posts by 4 users

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Chris Pelletier

Real Estate Investor · Northfield, Massachusetts


Forum_avatar_avatar-crpell

Icon_minipost Jan 20 '09, 03:20 AM

When leasing a property with the option to buy to a tenant/buyer, you can put the TB on the lease and hold it in escrow so the TB can refinance and not have to come up with a downpayment as in a conventional mortgage. How long does the TB need to be on the deed before they can refinance?

Edited: 06/26/2010 at 06:59AM



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Heather Pelletier

· Massachusetts


Forum_avatar_avatar-heatherp

Icon_minipost Jan 22 '09, 03:19 PM

As far as finding a lender who actually treats a TB excercising their option to buy as a refi, I don't know of anyone who'll still/can do that these days.

Does anyone else agree with this? Is it out of date information? We're new to this but it seemed like a good strategy. (Not to doubt you Dan, I'm just not ready to give up hope yet :)

Heather

Edited: 06/26/2010 at 07:01AM



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Don Levy

Real Estate Consultant · Orcutt, California


Forum_avatar_avatar-donrock

Icon_minipost Jan 23 '09, 11:01 AM

I believe the idea of holding the deed in escrow would fall apart when the lender got a preliminary title report and the person on the deed didn't show up as the owner.
donrock

Edited: 06/26/2010 at 07:01AM


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