Posted by Randy (SD) on March 01, 2004 at 12:26:03:
Who is structuring the lease? If you are drawing up the lease, put a provision in the lease that you are to pay $1,200 per month and receive $200 per month rent credit towards down payment at closing. If the seller is drawing up the lease ask for rent credit.
Please help with L/O - Posted by Kylee
Posted by Kylee on March 01, 2004 at 11:44:40:
Trying to set up a L/O for myself with owner. Terms look like they will be $2000 L/O fee. About $1200 a month lease for 18 months (or 24), then get a real loan and pay her off.
So, my question is–does the $1200 a month start paying down the sale price in an L/O situation–the way it would in a Sub 2-- or am I just paying like normal rent, and our agreed on sale price will stay the same, without being paid down?