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.
I 've been reading about l/o galore. But some questions just can not find answers to. I understand how the L/O works to a point. I’m not fully there when it comes down to the actual setting up. Do I have to tell the home owner of the house i am taking over all the details as far as money in regards to the people who will be leasing their house.
Are you allowed to take over someones house (taking over the mortgage like in L/O) but sell it on the market.
Posted by George on February 27, 2001 at 12:37:33:
I think would be a good idea for you to buy any of the good L/O courses, like Bronchick or Legrand. Altough you can find all the information you want here, for learning purpose it is better to study a well structured system plus you will have the forms you need.
It is much easier than to learn bits and pieces here.
These boards are great for some real life information that is not covered in the trainings. I learned a lot of stuff here, but the basics I got by studying Robert Allen, Dewberry, Legrand, John Beck and others…
and I am still learning…however, saying that, the best school is going out and making offers.It is where all what you learn will make sense.