Good morning!
I sent out an email on this about 4 months ago, but I see this situation enough that I think it bears repeating…
When you give someone option money at the onset of a lease option agreement – you are going to have to prove you gave that money when you get a loan to buy that house.
How do you prove it?
If it’s certified funds you need to keep a copy of the certified check.
If it was a personal check – you need to keep a copy of the cancelled check (front and back).
Don’t give cash!
Anything less than this – the underwriter will not give you credit for giving that money.
That’s it for today. …Have a good week!
Brett