Posted by George P. There is really no such thing-double closing or You probably read more various materials and put everything together. I am for a contract for sale that is perfectly legal or a lease option that is structured same way.Lease option is the method to do business in Texas, due to dumb legislators, who have no clue about real estate. Wrap- I would suggest not to use it, because it is wildly misused as an investor's language. There are many loans that are assumable or can be assumed with lender's permission subject to And here comes the answer what you really need to know. In order to determine how to work any deal, you must read the deed and review all lender's conditions on each particular property. Within a reason, you can break some requirements. Each deed will be different, each lender's conditions will be different. It may sound ridiculous, but there are loans where the lender prohibits renting the property. Nope, I didn't make a mistake. On other hand, some deeds are so simple, that you can do almost anything. It depends....
on 5/25/2004, 6:50 pm, in reply to "assumptions/lease options"
68.130.204.182
Let's start from the back of your post-
double closing sounds fishy and I believe there will be ONE closing only.
double recording. You can close on one property at a time. Same with recording.
It scares people.
qualifying. Loans before 1989, in some cases before 1990's, were, most of them, no qualifying
loans.
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