Posted by William Bronchick on January 29, 2002 at 09:21:46:
If you are willing to put up this much, call it a additional down payment and hold it in escrow. If you are not, make prepaid principal payments, reducing your interest due on the note.
Posted by William Bronchick on January 29, 2002 at 09:21:46:
If you are willing to put up this much, call it a additional down payment and hold it in escrow. If you are not, make prepaid principal payments, reducing your interest due on the note.
Taxes and default protection for a seller - Posted by Eddie
Posted by Eddie on January 25, 2002 at 23:14:57:
Commercial property seller will finance with 30,000 down. Wants 50,000 accessible to him in case of a default in my name. He is doing this for tax purposes- wants a tenant-free paycheck. Question: How can I make this happen and keep him happy?