Posted by Jim Kennedy - Houston, TX on April 22, 2003 at 11:47:30:
Denise,
Where in Texas are you located? I might be able to help.
Best of Success!!
Jim Kennedy,
Houston, TX
Hot-Subject To/Lease Option Purchase - Posted by DeniseTX
Posted by DeniseTX on April 21, 2003 at 11:59:50:
I spoke with an agent about two of his “newly” built homes today. I told the agent that I was an investor looking for nice homes. (This would be my first transaction.) The one home I am interested in is under contract, but the contract does not look good. The potential purchaser is a doctor who does not want to put any money down, but is open to larger monthly payments. He just wants in the house - now! There are some credit issues, may not qualify for funding.
Is there any way that I might be able to offer the builder and/or the buyer a subject to/lease option purchase to get the doctor in the house, but pay me the monthly payment and I assure the agent and his company of receiving a monthly payment from me? I do not want to finance the home either. I hope the question makes sense?
The price has been lowered to sell. Priced in the high $200,000 range in a new home subdivision.
Where can I find forms for this type of transaction, or would the home builder supply their own type of subject to/lease option purchase forms??
I told the agent that I might stop in and talk with him more this afternoon. Help!
Thank you.
Denise