All Forum Posts by: Brandon Hicks

I read the link Tim and this to me sounds like I need to get a policy just as I normally do when buying on land contract. Does is normally cause an issue when there is an escrow account? I can just reimburse the seller when its due like the taxes but Im concerned about the DOS clause.

Im thinking about looking into assuming the VA loan as well. I can see pros and cons to that.

First post.....Im a buy and hold guy in NE Indiana and basically follow the biz model of buying on land contract and then later refinancing with a small bank. I currently have 19 units.

My question is this.....

I basically have a verbal agreement with a guy to buy a duplex that has a VA loan on it with a escrow account by wrapping it with a land contract. Ive never had to deal with the underlying financing having an escrow involved. Taxes arent an issue since I can just reimburse the seller when due but how do I get the insurance on the property in my LLC's name without us double insuring the property?

Seller was told by Quicken that he had to have a escrow account BTW