Getting Started

[terateam 0]

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

[MichaelC 160]

terateam, the forms required are dependent upon the type of lease purchase deal you are doing. What kind of deal is this? Sandwich lease, CA, etc.? Come back with some specifics and we'll be better able to answer your questions.

[Guest Guest_terateam_*]

terateam, the forms required are dependent upon the type of lease purchase deal you are doing.  What kind of deal is this?  Sandwich lease, CA, etc.?  Come back with some specifics and we'll be better able to answer your questions.

<{POST_SNAPBACK}>

 

I want to do a sandwich.

 

Thanks

[MichaelC 160]

Between you and the homeowner, you'll need the Residential Lease with Option to Purchase Agreement, (one combined agreement). Along with this you'll want to protect your position if you're holding this deal long term. To do this you can record a Memorandum of Option. The Memo of Option will need to be notarized and then recorded with the county where the property is located.

As for the Due on Sale clause, it's a non-issue in my experience. Unless title is changing hands, the likelihood of the DOS being triggered is extremely remote.

[terateam 0]

Between you and the homeowner, you'll need the Residential Lease with Option to Purchase Agreement, (one combined agreement).  Along with this you'll want to protect your position if you're holding this deal long term.  To do this you can record a Memorandum of Option.  The Memo of Option will need to be notarized and then recorded with the county where the property is located.

As for the Due on Sale clause, it's a non-issue in my experience.  Unless title is changing hands, the likelihood of the DOS being triggered is extremely remote.

<{POST_SNAPBACK}>

 

Thanks,

 

I'll let you know how it goes.