Posted by Stacy (AZ) on February 21, 2001 at 22:17:34:
Hi Jim. Thanks for replying. I suggested a L/O to the buyer, but he had a couple of problems with it. He considered it too much to spend $10K on option consideration while only having a lease, and he wants the tax deduction for interest expense. I could play hard-ball with him, and tell him that’s the only way. However, with a buyer like this (cha-ching), I’ll work with him. In Arizona, a Land Contract forfeiture is almost as quick as an eviction, so it’s not that much riskier for me.