QUESTION:
Good Evening Adam. First I’d like to thank you for making your course affordable and easy to understand. You did a great job. Lease option assignments is what I will be starting out with. I have a few questions. If I negotiate rent credits with the seller for the T/B, where can I add this on the contracts? After I do the assignment I will no longer be involved in the transaction, How can I make sure that the homeowner is sending payments to the lender and not pocketing the T/B’s rent payment?

Thanks.
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ANSWER:
One, I put rent credits on the “option agreement tenant/buyer” under “EXTRA PROVISIONS”. It would simply be a line explaining the rent credits and how they’re applied as extra consideration. (Ask your attorney how this can be done as well)
Two, part “G” of the extra provisions expresses what will happen if the seller (new optionor after assignment) can’t convey title or doesn’t close. It says that the TB’s consideration plus $500.00 will be reimbursed as complete and liquidated damages.
Hopefully this helps and yes, I’m here if you have more questions.
Adam