exercise option at time of lease signing

[Rea]

I exercised my option to puchase at the same time I signed the lease. The owner is going to do a wrap around at the end of the month with me for the financing.

What do I need to do to protect myself?

Title Search before closing (he gave me 15 days in the agreement, is that meant to be 15 business days?)?

Anything else? Help. ???

[Money-Money-Money]

Hey REA,

Wow, exercising your option at time of lease signing. Well good luck with that, and yes its 15 business days! unless he specified other wise.

Good luck with that!!!

MONEY!!!

[TnJkelsey]

I am new and totally confused. Could you please explain the wrap around mortgage. Thanks From Oregon.

[Money-Money-Money]

http://www.reiclub.com/real-estate-terms.php#W

[TnJkelsey]

Wraparound Mortgage - loan arrangement in which an existing loan is retained and an additional loan is made that equals or exceeds the existing loan.

Thanks for the Link. How would you use it? please give an example of when you would use this. Also, What is needed?  :D

Thanks from ORegon. TnJ