Read a report concerning using “Pure Option” to gain control of real estate properties. In the report the author states: “to insure the Option transaction will be completed successfully, execute and place into escrow all the documents necessary to transfer title. Then protect your equity position and create an insurable interest by recording a mortgage to insure the Optionor’s performance on that option”.
While I do understand the purpose of placing all documents necessary in escrow in order to close anytime during the option period: I’m not certain how to explain to the Optionor that he/she has to give me a mortgage to insure his/her performance on the Option without questioning his/her integrity.
Any help would be apprecated.
Thurman