Optioning an owner financed home... - Posted by LisaD

Posted by Soraya on May 11, 2000 at 11:44:51:

Sell outright or do a lease option.
The chances of anything being in your contract that will prohibit a lease option will approach zero. HOWEVER, to be safe if you do a lease option make sure you have two agreements.
1- A lease agreement of less than three years that does not refer to the option.
2- An option agreement

You also may want to get Wm Bronchick’s lease option course to make sure that you cross all your “t’s” and dot your “i’s”. Follow his advise and you will stay out of court.


Optioning an owner financed home… - Posted by LisaD

Posted by LisaD on May 11, 2000 at 09:28:49:

We will be relocating in about two months and will need to sell our home relatively quickly. We bought it on a land contract (owner fi’d) three years ago and I’m wondering what verbiage I should look for in my contract that would prohibit us from selling creatively now. If we sell it outright (best case scenario) we would make a pretty good profit on what we paid for it 3 years ago, but when the ball starts rolling, we may need to get out fast, and selling creatively may be one of our best options at the time.