Posted by Doug,ky on October 01, 2003 at 07:56:08:
Thank you for posting.
You are correct in I’ve only leased optioned one property and they never exercised the option and i still own it today. I guess i got the impression from other sourse (banking) that the option money could be credited to downpayment but the rent credit had to be against the purchase. But, your saying some lenders will let the additional money above normal rent be credited as downpayment. So is this all spelled out and written down into - Well I would not think this would be documented in the lease agreement, but in the option contract. Is this correct?
Thank you again