Posted by Matt B on February 27, 2001 at 10:36:07:
Yes, you can certainly tell them that you are taking over all money details as well as anything else regarding the house. That is actually one of the best selling points. I always stress the point that the seller has no more worries related to the property when I do a lease option. I am guaranteeing that I will pay for the mortgage, taxes, repairs, etc.
Sure, you can sell the house on the market if you do a lease option. The lease option includes an option to purchase the house, so you have conractually tied the place up and can then sell it to whoever you want by lease optioning it out to a sub tenant/buyer, or sell it retail and do a simultaneous closing or assignment of contract.