Need all the L/Oer’s to help with this deal!!! - Posted by Jamie_Ga
Posted by Jamie_Ga on December 07, 1999 at 19:41:10:
Ok here are the details, I found a home that the owner is willing to Lease Option , The House appraises at 70k Negotiated 65,000 sales price, 500 option consideration, payments of 400/mo with 300 Rent Credit, Havent sign yet all verbal suppose to sign off in the morning.
Have buyer lined up Selling price 69k with 10% option consideration, 6900 and 500/month with 200 Rent Credit,
Are there any other factors I need to take into consideration here, I dont have cash So I am going to have to do all of this simultaneously, Owner of the home Are building a home about 100 miles away and the home wont be finished for about 3/mo But they said they will get out before, The Buyer just needs time to give her lanlord notice, (I thought that was a strongpoint too)
What is the best way for me to do all of this simultaneously I was thinking of telling the owners that we will close this in 1 month (Long enough for the buyer to give notice, And they would only have 2 mos left before there house was finished.
Also what all should I record? Should I do a l/o or a l/p with with the seller? Should I do a l/o or a l/p with the buyer?
Thanks for all of your help and if this works out see you all at the convention, (FINGERS CROSSED)