We met with the atty who had verified that the LO had all required elements. The LO should stand. Will post as actions are taken. As Tina said in Road Warrior "Break a deal, Face the wheel."
I sometimes when dealing person to person create my own documentation. I know forms are fun, but sometimes when you have established a really good relationship with the Seller, I just whip out my pad of good paper and I just handwrite or print out the Lease with Option, Agreement to Subordinate Instrument to a Future Trust Deed to Record. Blaw blaw.
Of course what I have done is stuck in my memory the actual instruments as prepared by title company attornies or by that nice Mr. Walcott who used to sell forms in all the stationary stores.
You would be amazed what people will sign if they think you are so dumb that you are drawing up a simple little Grant Deed or Quit Claim Deed, or yes even a Deed of Trust. My handwritten notes which are secured by the recorded Deeds of Trust have gone all the way through Full Foreclosure Actions and been presented in court for the subsequent Unlawful Detainer Actions.
But what an easy adventageous close you can effect when you just start writing out the simple agreement between you and the Seller.
Besides it has helped my handwriting a great deal. When I first began my handwriting was as bad as Napoleons. Some of his letters to Josephine were mistaken for maps!!!
Try it, you will be amazed how the tension and fear generated at closing is dissapated.
GOOD LUCK
Leraiser,
I sometimes when dealing person to person create my own documentation. I know forms are fun, but sometimes when you have established a really good relationship with the Seller, I just whip out my pad of good paper and I just handwrite or print out the Lease with Option, Agreement to Subordinate Instrument to a Future Trust Deed to Record. Blaw blaw.
Of course what I have done is stuck in my memory the actual instruments as prepared by title company attornies or by that nice Mr. Walcott who used to sell forms in all the stationary stores.
You would be amazed what people will sign if they think you are so dumb that you are drawing up a simple little Grant Deed or Quit Claim Deed, or yes even a Deed of Trust. My handwritten notes which are secured by the recorded Deeds of Trust have gone all the way through Full Foreclosure Actions and been presented in court for the subsequent Unlawful Detainer Actions.
But what an easy adventageous close you can effect when you just start writing out the simple agreement between you and the Seller.
Besides it has helped my handwriting a great deal. When I first began my handwriting was as bad as Napoleons. Some of his letters to Josephine were mistaken for maps!!!
Try it, you will be amazed how the tension and fear generated at closing is dissapated.
Cheers Lucius 8-) 8-)