Hello All:
I was asked today what is option consideration in relation to a lease option? Option consideration is the money you collect from a tenant buyer, usually 2%-5% of the agreed upon sales price, which is held outside of escrow, to secure the property. Option consideration is non-refundable and used against the remaining balance owed at closing. Many times proof of option consideration can be used when the tenant buyer decides to exercise their option and make application for financing!
For more information on lease options Click Here .
Until next time.
James Gage
Showing posts with label Free Real Estate Newsletter. Show all posts
Showing posts with label Free Real Estate Newsletter. Show all posts
Monday, February 8, 2010
Wednesday, February 3, 2010
Short Sales: Pre-Foreclosure News
Hello All:
New federal guidelines that give lenders a 10-day limit in which to respond to purchase offers on short are in play! Sound to good to be true? Yep, it only applies to banks that have received TARP funds. Also keep in mind that if they do respond to the offer in the 10 day window, plan on a 60-90 day or longer closing date - you will still have to go through the whole process!
For more up to date real estate information as it happens go to www.JGage.com
and sign up for our Free Real Estate Investing Newsletter.
Until next time, be well.
James Gage
New federal guidelines that give lenders a 10-day limit in which to respond to purchase offers on short are in play! Sound to good to be true? Yep, it only applies to banks that have received TARP funds. Also keep in mind that if they do respond to the offer in the 10 day window, plan on a 60-90 day or longer closing date - you will still have to go through the whole process!
For more up to date real estate information as it happens go to www.JGage.com
and sign up for our Free Real Estate Investing Newsletter.
Until next time, be well.
James Gage
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