That was my plan too as I have language in all my loans that prohibits secondary liens.However, this is not foolproof, I found.

The bank I use gives me unlimited free accounts for this with no minimum for each account so that is the only reason it works.But even if they used that info to try to do something or tried to make a withdrawal literally the only money ever in there is their deposit that is rarely in there more than a day.This is in PA and the attorney that reviewed our lease also confirmed that putting language about only making partial payments still being grounds for eviction is enough.

Use guru language like wet funds and they're going to say "no" rather than bother trying to figure out what you really want.Few title companies will do a closing using only the end buyer's funds.

You're speaking my language.

Just the language of the section you quoted is debatable.

@Wayne, that's my thinking, the contract is not really official until all docs are signed.

I use a simple letter of intent, which at the lawyers office will be redrafted as an official lease option contract, once a TBer is in place.

The results will be legally drawn up agreements for your use.Every state has unique laws.Every state has unique legally acceptable legal forms with legally acceptable legal language for that state.Just they way you communicate with a tenant is regulated.

They never provided me an official rejection to my offer.Should I really show the seller my bank statement?

Lots of good stuff I'm trying to learn...Can the lender in 1st position put language in the contract that doesn't allow the borrower to add a 2nd without his approval?