Friday, May 7, 2010

Don't Forget To Do This When You Give Money...

Good morning!



When you give someone option money at the onset of a lease option agreement - you are going to have to prove you gave that money when you get a loan to buy that house.



How do you prove it?



If it's certified funds you need to keep a copy of the certified check.



If it was a personal check - you need to keep a copy of the cancelled check (front and back).


Don't give cash!



Anything less than this - the underwriter will not give you credit for giving that money.



That's it for today. ...Have a good weekend!






Brett

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