Posted by Heather_tx on July 02, 2003 at 18:45:23:
Just a quick answer would be Options are just that an option to buy a property within so many days. Get a Option and try to sell your contract for a flip fee if you are interested in that. Or put an option on it for a few days to make sure that repairs are what you will think, ect,ect
Lease Option is like Rent to Own, You lease the home for a certain amount of time (1,2,3 years whatever) And anytime during that time you have the Option to purchase the home for the previously agreed upon price.
Hope this Helps,