Updated over 7 years ago on . Most recent reply
Question about Escrow and Short Stay Rentals
I live in England and have found a property that would offer a good Air BnB income.
The seller's realtor is saying that he can get Air BNB receipts from the current owner to prove the income. At first he was saying he could get these receipts before I make an offer on the property. Now he is saying that the seller is getting additional interest and I should make an offer now. Once the property is in escrow, he can get hold of the air BNB receipts.
I have the following questions:
1) If I make an offer, do I have to put the full deposit in Escrow straight away. Or can I put a percentage of the deposit in.
2) If I make an offer and the Air BNB receipts don't materialise, will I get a full refund of any money I put in Escrow. Or will the Escrow company keep a percentage to cover their costs.
3) The seller's realtor and my realtor claim that under California law, if you make an offer on a house, you can withdraw it in 21 days for a full refund without providing a reason. Is this correct? I have searched but cannot find anything to support this?
4) Are there any other things I can request to verify the Air BNB income? E.g. such as maybe tax returns? Thanks!