I would 100% go with Nathan’s “Two Steps to Our Contract Expected Adherence to Certain Performance Standards on Your Part as a Licensed Professional, Too, Solution” he outlined.

Start with formulating your new layout around any existing plumbing sources, and then go through the same questions outlined above.  

Outline that the sale is contingent upon the inspection report being satisfactory to the buyer.- Appraisal Contingency: State that the purchase is contingent upon the property appraising for at least the purchase price.

Again, please read thoroughly the statutes, they should outline if you must or not keep separate, of course interest or non interest bearing, etc… As long as it does not specify “where” you keep the account, you should be able to put that in your brokerage account.Here in Florida, we can’t commingle accounts and must reconcile each month.

I HIGHLY recommend checking it out as it outlines exactly what to do.

@Leonard RybakYou have outlined many of the pros and cons associated with that.

@Tyson E Keslar There are a lot of variables to consider in addition to the roles and responsibilities that you have outlined.

It should outline required notice, i.e.

I am talking to a lawyer to outline our plan tomorrow so we execute legally, but there doesn't seem to be any information available explaining how people are pulling this off.

Nonetheless, I have had success with my contractors when I followed the simple steps outlined in my earlier comment.