L/O contracts - Posted by Mathew Malczyk

Posted by Russ Sims on March 12, 1999 at 13:08:33:

Matt: If memory serves me, Bill Bronchick (legalwiz.com) has a L/O agreement for both scenarios: one to sign with your seller, and two to sign with your TB (with them, you sign a seperate lease and purchase agreement).

L/O contracts - Posted by Mathew Malczyk

Posted by Mathew Malczyk on March 12, 1999 at 12:01:29:

During the past month, I have spent all my spare time trying to break into the real estate business. I have put together an investor group to flip contracts to. I have built a database of people who seek a home to rent-to-own. I have secured a mortgage broker to help tenants secure financing when they exercise their purchase option.
I have looked at several homes and am ready to make some offers and do some business. I have downloaded two Lease/Option contracts from two different websites and combined their contents, added a few phrases, and tuned them to be compliant with Illinois law. However, these contracts are worded to be in my favor as the “landlord”. I will use these contracts between myself and future tenants. My question is, now that I am ready to make an offer on a home to Lease/Purchase, should my offer be in the form of a contract? And, don’t I need a second contract that favors the “renter”, to be used between myself and the home owner. Where do I find such a contract?

Thanks for any help.

Re: L/O contracts - Posted by Sandor

Posted by Sandor on March 13, 1999 at 24:10:34:

Try Claude Diamond @ 970-726-7979. He’ll consult with you on the details.