New Property or New Tenant Info-Lease Options

What is New Property Or New Tenant Info

The New Property Or New Tenant Info like it’s name suggests gives details regarding the properties and tenants. It has various details in it like the name of the person preparing the document, the address as well as the approximate annual rental value.

Incase of new properties, the name and social security number of the seller is needed along with his phone number and the date of birth. The date of acquisition and whether the documents are complete as well as signed needs to be ascertained, along with the name of the trustee and the beneficiary.

The next part of the New Property Or New Tenant Info contains details of the name of the lender, the loan number, his phone number as well as the balance of the loan and the monthly payment towards the loan and if it needs to be reinstated.

There are also details such as existing insurance is it there, is the insurance escrowed, is new insurance needed, will a refund be given, is the mortgage company aware of the transfer and is it assumable or non assumable. Also, details such as the investor notes and the deed of trust are necessary and if so, is it complete and released.

The next part is the name of the investor, the date of the loan, the payment due, the amount and date of the first payment.

For tenants what is needed are their details including details of the lease payments, security deposits as well as repair deductible amounts. Also if utilities are taken in their name.

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Sample Template Preview

New Property/New Tenant Information

Name of Preparer    _________________________

Property Address    _______________________________________ Approximate ARV_____________

FOR NEW PROPERTIES

Name of Seller    _________________________    Social Security No. ______________________

Seller’s Phone Number ________________________     Seller’s Birthdate ________________________

Date of Acquisiton ____________________________    All documents complete and signed? Yes or No

Name of Trustee    _________________________     Beneficiary:  ___________________________

Name of Lender    _________________________    Loan Number __________________________
Lender Phone No.    _________________________    Approximate Loan Balance _______________
Amount of Monthly Payment on Loan $___________    Need to Reinstate?  Yes/No  (Verify Amount)

Did we assume existing insurance?    Yes or No            Is Insurance Escrowed?    Yes or No            Need new Insurance    Yes or No         Do we need to get refund?    Yes or No

Does Mortgage Company Know of Transfer?    Yes or No        Assumable or Non-assumable?

Are Investor Notes and Deed of Trusts necessary?    Yes or No        Completed or released?

Name of Investor    ________________________     Amount of Loan _________________________
Date of Loan    ________________________     Normal Monthly Payment _________________    First Payment Due ____________________        Amount of First Payment __________________

FOR NEW TENANTS

Tenant    Name    _______________________________    Term of Tenancy ___________ to __________
Tenant Phone No.(s) Home _____________________    Work _________________________________

Monthly Lease Payment $________ Monthly Option Payment $______Total Monthly Payment $________

Security Deposit/Option Down Payment $_________    Refundable or Non-refundable?

Prorated Amount if Any _______________________     Date Due ______________________________

Repair Deductible Amount  $___________________    Late Fee Terms _________________________

Have Utilities been taken out of our name?    Yes or No    Date Service Terminated __________________

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Accepted by Accounting Department __________________________  Date Entered __________________