Posted by Luke Hoppel on June 06, 2006 at 13:37:21:
GMann,
Are you sure about that? You can evice on a lease option but if you have a lease purchase it’s a lot tougher from my understanding becuase you the tenant has interest in the property.
If you sell on a lease option and use two contracts, one for the lease and one for the option, it’s much easier to evict.
Just so everyone is clear, there is a difference between a lease option and lease purchase.
Selling on Contract For Deed vs. Lease Option - Posted by Rob
Posted by Rob on June 04, 2006 at 14:55:30:
What are the Pro’s And Con’s of each? To me it seems like cfd is superior even if you did have to foreclose.
Re: Selling on Contract For Deed vs. Lease Option - Posted by GMann
Posted by GMann on June 05, 2006 at 10:24:26:
I prefer a lease purchase because you can evict instead of foreclose. Some states will require a foreclosure process with a contract for deed. You also have the upside on a lease purchase if they don’t exercise the option.
Re: Selling on Contract For Deed vs. Lease Option - Posted by LK
Posted by LK on June 04, 2006 at 21:24:19:
I ask the same question on this forum a while back. Its really personal preferance depending on the situation and what you want to do.
The following article by William Bronchick explains it well: