Recording an Option - Posted by Todd


#1

Posted by Bud Branstetter on November 04, 1998 at 12:54:07:

You want to strike while the iron is hot should only mean you get his verbal and written comitment to do the deal. The rest of the paperwork will come as you progress in the deal. You don’t close a property and notarize everything at the same time you sign a real estate contract.


#2

Recording an Option - Posted by Todd

Posted by Todd on November 03, 1998 at 22:21:14:

I am a new investor starting out in Lease/Options. I have read that recording the option and getting all the title transfer paperwork into escrow is always a good idea. Based on this, I would imagine that a title company and a Notary Public need to get involved. How can I get the seller to sign all of this stuff yet still “strike while the iron is hot”? Won’t this scare him off? Should I have the seller sign the contract first and then worry about the rest after I find a subtenant? What would be a good procedure? Any ideas would be greatly appreciated.