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Updated over 10 years ago on . Most recent reply

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5
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Sam Ray III
  • Hampton, VA
0
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5
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Doing a Rent to own deal for a client, how should I handle the down payment

Sam Ray III
  • Hampton, VA
Posted

Right now a friend has asked me to try and find a renter with an option to buy for her house. she wants 2.5% down and we've agreed that she'll give me 0.5% of that down payment for my effort. 

What would be the recommended way of receiving that down payment? Providing I'm doing all the leg work of showing the house, Should I ask the potential tenant for two checks one in the owner/sellers name with the 2% amount and another check in mine with .5% amount

or should I ask for a check with the whole amount to go to me and then pay the owner/seller later

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