I mean ever.Yes or no, not maybes.The letter of intent basically says,Name of owners, property name, today's date, name of prospective purchaser, name of purchaser's company, intention to purchase on these terms as a principal.Purchase priceif lease with option, market rent, 12 month term with extensions, exercise price, etc.If subject to, purchase price, date of possession, date first payment, date of walk through, etc.If wraparound mortgage AITD, purchase price, note payment, interest rate, etc.

They will collect the insurance premium each month in your monthly mortgage payment…As far as an “umbrella policy” that is something in addition to your regular homeowners policy (it does not replace those policies).

I am an example of what “Not To Do”… I don’t have regular rentals… only lease option buyers…When I sell on lease option, my goal is to NOT take the property back.

I have to answer your question in a slightly different way, as in the case of Triple Net leases different rules apply.The best financing (CTL financing) is available if you have an Investment Grade Tenant such as Walgreens and a remaining lease term of at least 10 years plus.CTL financing is negotiable at 100% plus, but you need to know the "language" and the rules of the game.There is no school where you can learn the game, and the insiders typically do not share their knowledge.So CTL financing is determined by the creditworthiness of the tenant and the strength of the lease; not by the appraised value of the building.With Non-Investment grade tenants you (only) have access to regular sources of financing, and the normal rules apply.Hope this helps.Louis Bergman

I do work with these banks on a very regular basis and they all offer a nice program, but I sell off frame modular homes, so again I am not sure of your circumstances.

Many others I have dealt with were flakes… I hired them for “regular” service, and they would not show up, or were constantly changing the days around…“Ok” service is easy to find… There are a ton of companies out there.

You can use a “letter of intent” rather than the regular MLS offer forms for “testing the waters”… You can fax them directly to the listing agent… And when they reply, they can reply back to your Realtor.

Trying to exercise my brain cells!

So we do well here in regular residential real estate, 2nd/vacation homes (and rentals), and commercial property (the big box stores have found us, finally!).

What I was really wondering is if there is a way to get an option to buy and then assign the option just like I would a regular purchase and sale agreement.