A little help with details

[Edward Prochilo]

I think I understand the basics of how OF works with contract for deed, Sub2, and LO. My question is about who pays (and therefore also claims on income taxes) insurance, interest, and property taxes in each of these strategies. If it is the buyer, how do you change over the escrow without triggering the DOS clause, since the bank is usually controlling the escrow account? If the seller has to change to a non-occupant owner, that will change all the numbers for taxes and ins. How do you account for that in your deal calculations?