Lease-option newbie - Posted by Rk (Pa)

Posted by alvin on May 28, 2008 at 21:51:17:

im a newbie myself but very knowledgeable with creative investing.

the strategy im working on are land trusts, triple net leases and equity sharing.

tenant/buyer should be pre-approved for a loan before they exercise their option to buy. when the option is exercised, escrow is opened, a purchase agreement is signed. pretty much its a conventional transaction after exercising the option. when the underlying loan is paid off, thats when the tenant/buyer will get title to real property

Lease-option newbie - Posted by Rk (Pa)

Posted by Rk (Pa) on May 22, 2008 at 17:13:49:

Hello everyone. I am new to lease option investing and I have a simple question. When the tenant/buyer exercises the option on buying a property, what happens next? Does the original seller have to be present at the closing with the new tenant/buyer to sign the purchasing contract? Thanks in advance for all of your responses and God bless.