Posted by Scott Shubert on June 27, 2002 at 23:14:05:
Although you cannot sell a property that you don’t own you can do a sandwich lease option and take the 20K as option consideration.
It would be unethical, however, to take the 20K unless you believe that the tenant/buyer will be able to finance the house at the end of the option period. Otherwise you could exercise your option and sell on owner financing but unless you pay cash when you buy you would really be selling subject to existing financing or on a wrap which could trigger the due on sale clause (not that the DOS clause would be a major concern for someone educated by this board)