Guard a Signed Lease Option with Your Life

Once you get the lease option signed, make sure you keep the original signed Lease Option somewhere safe.  I would suggest a Safe Deposit Box.  This may sound crazy but we’ve actually had underwriters ask for the original at closing.

Why? I have no idea! But you’re better safe than sorry. I think what they were trying to do was find a reason to decline the files (who actually keeps the original, right?).  But because we had the original, we’ve been able to eliminate this deal breaker multiple times.

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