Posted by LHoffman on December 16, 1998 at 10:57:34:
I read the story and thought to myself all of this could have been avoided if the buyer would have:
1.) Place all the documents in escrow (Deeds, Mortgage papers, etc..)
2.) The buyer would have recorded a memorandum.
3.) Never and I mean never place option money down.
I do it all the time. I never give option consideration for a lease option. Now you really don't have nothing to lose.
On the web: http://www.therealestatefactory.com
Post a Followup