This what was spelled out in our agreement. 

This is spelled out in the contract and usually 10 days for your typical 30-day close on a single-family residence, and 30 days on the typical 60-day close for an apartment or commercial building.

We just be up front with each other and everything is spelled out in writing so there is no confusion.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Its always spelled out in the note.

@Carleton T.When I partner on deals, the way I typically do it is put the house into a Land Trust and have the beneficial interest of the trust spell out the percentage of ownership.

Considering that DU allows a 57% back end ratio with good credit, this could spell trouble down the road.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.