There should be questions about the rent amount, due date, lease expiration, security deposit, who pays utilities, and who owns the appliances, at least.

The mortgage is secured—or collateralized—by the house, the buyer’s name goes on the title and the mortgage is recorded with the local government.2.

You typically have 30 days to send the tenant a letter detailing the cost of any damages against their security deposit.

How much do you usually collect for the security deposit? 

That way you can work with investors and house flippers and get paid while doing it, and learn a lot of their strategies and techniques while helping them find properties. 

Ensuring the safety and security of my guests and property is of utmost importance to me.

The seller was motivated to close quickly, and we negotiated a favorable price of $80,000, allowing us to secure the property at a discount and capitalize on its renovation potential.

With everything pretty much being new I feel reasonably good and have somewhat of a “it’s meant to be feeling” with the original buyer struggling to get the funding together to complete, allowing me the opp to finally secure.

Would you charge damages from the security deposit?

Additionally, I’ve secured seller financing for half of the purchase price, but I’ve been told this could complicate things further since banks typically prefer being in the first lien position.