terateam
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Hello everyone. I purchased Michael’s manual about 3 years ago. Read it once and put it on the shelf. Now I have a case were it might come in handy. Here is the scenario: Friend purchases a home two months ago for $139K. The home was previously appraised for $142K. Now he says he cannot afford the house and wants out. I plan on meeting with him on Sunday and discuss a possible lease option.. Anyone have any suggestion? How much should I charge for the option fee. Is two years about right? What doc do I need? Anything comments will be appreciated.
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All the CA's I've closed until now have been to TB's from out of town (1-2 hrs away from where the RTO properties are) I am yet to close a CA deal with a "local" TB.. BUT it ain't gonna happen.. there's a logic behind that <{POST_SNAPBACK}> Hi folks, I happen to know of a service that will greatly increase your ability to market these properties. It's revolutionary and very cost effective. If anyone would like some information, just shoot me an email at videoteam@helloworld.com.
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Thanks, I'll let you know how it goes.
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I had owned the manual for over a year. It's been on my bookshelf. Now I may have a opportunity to use it. Please help me with these question. What forms do the home owner and I sign? 1. The Lease Purchase Agrrement 2. The Lease option Agreement Do I need to file these documents? What about "Do on Sale Caluse"? Thanks
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I'm also a newbie. Waiting on my manual. I know no one that I could use as a reference. What should I do if/this comes up ?
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How do you explain this to a seller?
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Can Tenant Buyer Always get credit for the option?
terateam replied to terateam's topic in Lease Purchasing
Thanks Michael, That clears up my thinking a lot. This is "Don". I'm the one that has the guy moving to California from Texas and don't know what to do. I did e-mail you my phone number. -
I have a couple of questions for you guys that have been doing lease option for over a year. 1.Will the lender ALWAYS allow the T/B credit for the option money? 2. Will the lender ALWAYs allow the T/B credit for the rent credit NO MATTER how much you allow ? Is 100% rent credit allowed ?