- 1 LEASE-OPTION DEALS
- 1.1 Anti-vaxxer want informed consent and liberty
- 1.2 New York Times – Another Industry Captured Corporation – 5G Must Be Good Because Evil RT Warns It Is Unsafe
- 1.3 Tetanus Vaccine – TDaP – No Proof Of Safety
- 1.4 I just don*t thing being an adult is gona work for me
- 1.5 Sign In
- 1.6 Co-Broker Buyer Broker Agreement
- 1.7 JR-Deal-NewZ-2-8-2019
- 1.8 Home Renovation Can Cost A Lot
- 1.9 Funny Mockery of Ineffective Government – From An Opponent of Single Payer
- 1.10 IRS Provides Clear Test on How 20% Deduction Applies to Rental Income, Exchanges
- 1.11 Real Estate Calculations Every Investor Should Memorize
- 1.12 An additional inspection can cut short the time for the original inspection
- 1.13 Ten Mistakes Investors Should Avoid
- 1.14 How to Make Earnest Money Non-Refundable
- 1.15 4 Different Types of LLCs and the Ways They Pay Taxes
- 1.16 Why I Walked Away from a 118-Door Apartment, 10 Essential Real Estate Team Members & What to Do When Your Tenant Gives Notice
- 1.17 Helping Other Brokers
- 1.18 Home Inspection Questions
- 1.19 Seller-Financing Restrictions Under The Dodd-Frank Act – Barnes Wallace
- 1.20 Door Knocking to Find Real Estate Sellers
- 1.21 Radio – 9-16-2018 8 PM Eliminating Traffic Congestion 9 PM Buying Real Estate in Partnership – James Robert Deal – Attorney Broker
- 1.22 How To Choose A Domain Name – by Saul Klein
- 1.23 Mistakes Sellers Make
- 1.24 Buy Real Estate In Partnership
- 1.25 Small 5G Cell Towers in Neighborhoods Reduce Property Values
- 1.26 15605 Cascadian Way Bothell WA
- 1.27 Cell Towers Reduce Property Values
- 1.28 Reciprocal Easements by Prescription
- 1.29 There may be a short statute of limitations on your credit card debt
- 1.30 The Downside of Smart Homes
- 1.31 Cancelling, Restructuring, Extending, Deferring, Rehabilitating, Consolidating Student Loans
- 1.32 Where Americans Move To – Where they Moved From
- 1.33 Selling FSBO Can Cost Sellers A Lot Of Money
- 1.34 Renew the National Flood Insurance Program (NFIP)
- 1.35 Underwater Properties – Due to Climate Change
- 1.36 18809 65th Place W Lynnwood
- 1.37 Co-Brokerage Listing Addendum
- 1.38 Call A Real Estate Attorney BEFORE You Buy or Sell
- 1.39 How Much Is Your House Worth?
- 1.40 JRDeal-NewZ-12-13-17 CDC Manipulated Results Anthrax Vaccine Sickens Soldiers
- 1.41 Puget Sound Market Prices Up
- 1.42 Questions To Ask Before You Buy A Home
- 1.43 Prince Did Not Have A Will – Do You?
- 1.44 The Foreclosure Train Rolls On
- 1.45 Dodd Frank and Seller Financing
- 1.46 Buy This Book – Chain of Title
- 1.47 You Need A Lawyer When Doing A Modification
- 1.48 Mortgage Modification Successes
- 1.49 For Sale By Owner
- 1.50 Banks Losing Right to Require Arbitration
First, read about seller financing in general. A lease-option or lease-purchase deal is a form of seller financing.
The wrap-around deed of trust deal is a version of seller financing. The advantage of a wrap-around deal is that actual title is transferred to the buyer. With the lease-option deal, title stays in the seller until the buyer refinances or resells or otherwise pays off the seller.
Generally, buyers can get into a wrap-around deed of trust deal if they have a larger down payment. Generally, a seller prefers to sell on a lease-option or lease-purchase basis if the buyer only has a small down payment. A good example of this is the renter who says, oh, by the way, I would like to have the option to buy this house, and who pays only a few thousand dollars in option money. Sellers generally want to see more commitment from a buyer before they part with title.
But a lease-option deal can still be good for a buyer. It may be the only way the buyer can even get close to becoming an owner.
Advice to sellers who sell on lease-option: A renter who pays extra for an option is generally a better renter. You can build into your agreement a clause that says that the renter is responsible for all repairs and maintenance because the renter intends to become the owner down the road. A seller generally wants a shorter option period, say two years, so that the seller can adjust the price upwards if the market rises. A landlord can generally get higher rent from a lease-option buyer than from a regular tenant. The seller generally will want none of the rent to apply to the purchase price.
Advice to buyers who buy on lease-option: Try to get a five-year lease-option. Whatever is wrong with your credit that prevents you from being able to get financing may take more than two years to fix. Also, try to get the seller to sign a deed and deposit into into true escrow so that the deed will be already signed and notarized when the time comes to take title. The lease-option buyer will generally ask that a part of the rent apply towards the purchase price. The lease-option buyer is wise to have rent paid through a collection agent – who might be the true escrow holder of the deed – so that he can prove to the lender who does the refinance that he has paid all lease payments on time.
A seller can generally get a higher sale price when he sells on a lease-option basis. This is because there is a larger pool of potential buyers – those who can get financing plus those who have significant down payments and good income but who have dented credit.
Technically, a lease-option deal triggers a due-on-sale clause. However, because generally the lease-option agreement is not recorded, there is no way the lender can learn of the sale unless one of the parties to the transaction tells the lender.
If your are a buyer or seller who finds a seller or buyer who will do a lease-option deal – without the assistance of a real estate broker – contact me, and I will write up the deal and get it set up for closing. I will also set up the collection account and park a deed in true escrow.
On the other hand, sometimes the best way to find a lease-option buyer or seller is through a real estate broker. A broker wants to be paid his commission, and if the option money is great enough to cover the commission, the commission might be paid at the start of the lease-option agreement. If the option money is small, the broker might have to wait until the buyer cashes the seller out. If the option money is in between, then part of the commission might be payable when the lease-option begins and the rest when the buyer cashes the seller out.
Whether you are working through a real estate broker or not, I am ready and willing to set up lease-option transactions.
I give initial telephone consultations to real estate agents and buyers and sellers by telephone for no charge. I can represent the buyer or the seller. If there is a real estate broker involved, I advise the broker to put together a lease-option agreement on standard forms used by the multiple listing association. Because the standard forms do not cover all issues and because brokers are not licensed to write complex addenda, the broker then brings me into the picture, and I complete the escrow setup.
All mortgages should be assumable – provide the buyer has reasonable credit – however, lenders want to make fees by forcing buyers to get new financing. But buyers and sellers can be creative and “go around” due-on-sale clauses by selling on a lease-option basis.
James Robert Deal, Broker and Attorney
Broker with Agency One Realty LLC
WSBA # 8103, DOL # 39666
James at James Deal dot com
Anti-vaxxer want informed consent and liberty Ada Drinkwater, Wife mother grandmother great grandmother Liberty & informed consent are not only the American Way, but a part of every document of medical ethics. Informed consent is also a part of the National...
New York Times – Another Industry Captured Corporation – 5G Must Be Good Because Evil RT Warns It Is Unsafe
From James Robert Deal: Too much microwave radiation will make our cities and towns hard to live and work in. We will be fried by smart meters and 5G. The main beneficiary of smart meters are the companies that make them. The main beneficiaries of 5G will be robots....
The US Institute of Medicine concluded that the evidence is inadequate to accept or reject a causal relationship between the DTap vaccine and autism. How then can the CDC make the blanket claim that vaccines do not cause autism?...
Please just overlook the atrocious grammar in three of these. They are not editable but they ARE too good to delete. Contentment is not the fulfillment of what you want, but the realization of how much you already have....
CLICK HERE TOSIGN UP FOR A BETTER PROPERTY SEARCH TOOLYou will be asked for your email address and your telephone number.You do not have to enter your telephone number. You can enter any ten digit number if you want to retain your privacy. If you want me...
James Robert Deal co-brokers with other brokers on complex deals. This is a buyer broker co-broker agreement.
Eliminate traffic congestion. James Robert Deal managing broker. Become a real estate agent.
Reality check: Don’t fall for these TV home renovation fibs Kitchen and bathroom remodels can cost more and take longer than HGTV shows lead you to believe. · by Sharon Salyer · Saturday, January 26, 2019 These before-and-after photos of this Edmonds...
From James: Some points are valid. Some are not. But this is well written and sometimes funny. One of government’s problems is that elected officials are being bribed by corporate money. They need vast sums to get elected, so they take the money. And that appoint...
The Top 8 Real Estate Calculations Every Investor Should Memorize by Andrew Syrios | BiggerPockets.com https://www.biggerpockets.com/renewsblog/2016/01/13/top-8-real-estate-calculations Despite what many of us math-allergic folk would prefer, real estate does involve...
An additional inspection can cut short the time for the original inspection QUESTION: I’ve always been under the impression that when a buyer sends notice for additional inspections then the initial timeframe is void and buyer only has the additional timeframe to...
10 Lethal Mistakes to Avoid on Your First Real Estate Investment by Chad Carson | BiggerPockets.com https://www.biggerpockets.com/renewsblog/2016/03/22/10-lethal-mistakes-avoid-real-estate-investment You may have heard that your first real estate investment is the...
Click here if you are having trouble viewing this message. Weekly Membership Newsletter JANUARY 8, 2019 • Stay Connected! QUESTION: I have been asked a few times about non-refundable earnest monies. If a seller, who is a builder, is requesting that earnest monies be...
4 Different Types of LLCs and the Ways They Pay Taxes by Scott Smith | BiggerPockets.com https://www.biggerpockets.com/renewsblog/different-types-of-llcs-and-the-ways-they-pay-taxes/ The following is meant for informational purposes and is not legal advice. For...
Why I Walked Away from a 118-Door Apartment, 10 Essential Real Estate Team Members & What to Do When Your Tenant Gives Notice
Support Our Sponsors: For Accredited Investors Only. Syndicator of multifamily investments, Ashcroft Capital. Co-founder, Joe Fairless, BiggerPockets podcast guest episode #227. InvestwithAshcroft.com FORUMS BP BLOG PODCAST December 2, 2018 Newsletter LATEST POSTS...
I am a real estate broker and a real estate attorney. I help buyers, sellers, and other brokers throughout Washington. Call me at 425-774-6611 when your purchase or sale involves legal issues. I can often quote a flat fee payable at closing.
What Buyers Should Ask After a Home Inspection October 9, 2018 After an inspector has finished a home report, buyers may feel overwhelmed by any flaws that might have been found. That’s why it’s important they take the opportunity to learn more so that they can move...
The Dodd Frank Act imposed regulations on seller financing. If the buyer will live in the property, there are restrictions which apply. If the buyer will not live in the property, the restrictions do not apply. The restrictions are complex. Consult an attorney.
29 Door Knocking Resources for Successful Lead Generation Posted by REDX January is the perfect time to door knock. Most people wait until the holidays are over to list their home, and more homes are listed in January than any other month. This presents a once-a-year...
Radio – 9-16-2018 8 PM Eliminating Traffic Congestion 9 PM Buying Real Estate in Partnership – James Robert Deal – Attorney Broker
JR-DEAL-NEWZ-9-16-2018 WASHINGTON POLITICS JAMES ROBERT DEAL, BROKER, ATTORNEY, ENVIRONMENTALIST, AMATEUR MUSICIAN Radio Program – Sunday, September 16, 2018 www.JamesRobertDeal.org/Radio 8:00 PM Politics: How to eliminate traffic congestion and take half the cars off...
Choosing Your Domain in the Age of Dot ANYTHING Written by Saul Klein Posted On Friday, 14 September 2018 13:00 · https://realtytimes.com/real-industry-news-articles/item/1019999-choosing-your-domain-in-the-age-of-dot-anything As the Internet continues to...
5 Mistakes Home Sellers Make Written by David Reed Posted On Friday, 14 September 2018 21:56 https://realtytimes.com/consumeradvice/sellersadvice/item/1020039-5-mistakes-home-sellers-make?rtmpage= There’s no shortage of advice for home buyers. Getting approved for a...
If you do not have enough income to qualify to buy a home, join together with several others. But a larger home, big enough for several families. With multiple incomes you can qualify. If you want privacy you can jointly buy a tri-plex or a four-plex. These can be bought with an FHA loan with only 3.5% down.
CITY COUNCIL DENIES APPEALS OF CELL TOWER INSTALLATION Sam Catanzaro , Santa Monica Mirror, August 31, 2018 Wireless carrier Sprint wants to install a mini cell tower on this street lamp on 18th street. Photo: Sam Catanzaro. Residents protest installation of...
15605 Cascadian Way Bothell Washington. $430,000. 3 bedrooms, 2 bathrooms. Buy on FHA Rehab Loan. Hold long term. Eventually sewers may be extended 400 feet, and then two homes, two duplexes or five townhouses can be built. James Robert Deal, Attorney and Broker, 425-774-6611.
Survey by the National Institute for Science, Law & Public Policy Indicates Cell Towers and Antennas Negatively Impact Interest in Real Estate Properties 94% of respondents said a nearby cell tower or group of antennas would negatively impact interest in a...
Reciprocal Usage Easements? What is the Purpose? Many buildings that were constructed prior to the 1960s lacked adequate parking, and/or even on-site common usage with for ingress/egress of automobiles. In property law, ingress/egress referred to rights of a person to...
Shortening the Limitations Period on Credit Card Collection Lawsuits Jon Sheldon August 6, 2018 Print/Download Email link to this article CONTENTS · Which Statute of Limitations in a State Applies to Credit Card Collection Lawsuits · Which State’s Statute of...
The Downsides Of Selling A “Smart Tech” House Posted on August 4, 2018Natural Living · · · · · · · Like By Catherine J. Frompovich Listen to Article Will your “smart home” become a true headache and liability when you...
Student Loan Repayment Rights: Consumer Debt Advice from NCLC Joanna Darcus August 2, 2018 Print/Download Email link to this article CONTENTS · First Identify What Kind of Loan You Have · Rights to Cancel Your Federal Student Loan · How to Reduce...
Just a few years ago, experts indicated Americans (especially young Americans) were more interested in a different lifestyle than previous generations. Instead of owning a house in the suburbs, the new American dream consisted of renting an apartment in the city....
Selling Your Home Solo to Save Money? You’ll Actually Make Less Than You Think Posted in Economist Commentaries, by Amanda Riggs on July 9, 2018 385 Some homeowners opt to sell their residence without a real estate agent to get around paying a commission and make more...
RENEW FLOOD INSURANCE BUT QUIT SELLING NEW COVERAGE AND QUIT BUILDING NEW HOMES IN FLOOD ZONES SEA LEVELS ARE RISING Can't read or see images? View this email in a browser Have you taken action yet? Time is Running Out Dear Emelyn, The National Flood Insurance Program...
Climate Change Will Force the Poor From Their Homes Low-Lying towns and Homes in Washington will be affected too Alamy This story originally appeared on CityLab and is part of the Climate Desk collaboration. It’s no surprise that a list of places most at risk from...
18809 65th Place West Lynnwood WA 98036. This house has “good bones.” It needs fixup, cleanup, and your love.
As both a real estate attorney and a real estate broker, I co-broker with other brokers, helping them to take more listings and service them better. This provides better service for sellers.
Call a real estate attorney BEFORE you buy or sell property. Call Attorney James Robert Deal at 425-774-6611. In many cases I offer a flat fee, payable at closing out of escrow.
What is your Washington home worth? Click here to find out.
JRDeal NewZ JAMES ROBERT DEAL Political Activist - Real Estate Attorney - Real Estate Broker 425-774-6611 December 3, 2017 Read Online at: https://www.washingtonattorneybroker.com/jrdeal-newz-12-3-2017 DR. THOMPSON OF THE CDC ADMITS TRASHING DATA IN 2004, REVERSING...
Home prices in Seattle have doubled over the past five years.
Questions to ask before you buy a home.
Prince died without a will. Do not make the same mistake.
Private corporations such as Loan Star and Caliber bought thousands of mortgages. The government pays them to modify mortgages, but they are quick to foreclose. They invest in high value instead of low value homes. They should be required to serve the interest of the local neighborhood as are banks. They should be regulated as banks.
There are seller financing restrictions when the buyer is going to live in the property.. No cash out less than five years. The rate must be fixed for the first five years.
Chain of Title How Three Ordinary Americans Uncovered Wall Street’s Great Foreclosure Fraud Purchase hardcover — $27.95 Available: April 2016 Hardcover 6 1/8 x 9 1/4 , 400 pages ISBN: 978-1-62097-158-1 Also available as an e-book David Dayen David Dayen is a...
You should be represented by an attorney when you are modifying your mortgage. Servicers break the rules.
Most of our clients are people who tried to modify their loans on their own and failed. Mortgage modifications are tricky. There are procedures which must be followed. When you do something wrong, the servicer does not tell you what you are doing wrong. The servicer...
James Robert Deal, Attorney and Broker, assists for-sale-by-owner buyers and sellers. Call 425-774-6611 or 888-999-2022.
CFPB may allow consumers to sue banks and file class action cases. Banks will not be able to hide behind mandatory arbitration.