10.31.2012 – Real Estate Question

Question By E.P..”An Owner Would Like For Me to Put Down 1st, Last & A Large Deposit To Buy His Home, Is That Normal?”

…Answer: This Scenario Seems To Be A Lease Purchase. The Owner Is Asking You To Put Down A Significant Amount And Will Use That Amount To Be Used As Your Binder Deposit. If You Do Not Close On The Home By The Agreed Upon Date You Will Be In Breech Of Contract & Forfeit Your Binder Deposit. For More Information On Lease Purchases Please Call 850-877-2692