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my husband and I are thinking about leasing w/ option to buy a home what is a contract buyers escrow?
I have downloaded forms for lease with option to buy, but I was advised that we should do a contract buyer's escrow. What exactly is this and how do I incorporate it into the agreement?
Public Comments
- Let me first assume you are not buying this property on contract, which is another animal all together. Lease with option to buy is a great way to buy property. By "contract buyers escrow" I assume you are referring to what happens to the option money during the duration of the contract or the seller es crowed credits to you during the contract. This just needs to be spelled out clearly in the language of the document. An investment Realtor should be able to help you with this.
