belliott71 0 Report post Posted March 11, 2007 Hello everyone, I've been reading this forum for a while and I've bought the manual. I just had a couple of questions about the option forms to use. Do I use the hybrid lease and the standard option to purchase that is right after the regular lease for tenants? How long should the option between myself and the seller be? And lastly what about the option to purchase between the tenant I find and the seller (when is that one drawn up and should the length match the length of lease)? Thanks for all the good info on this board. Brad E. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 11, 2007 Brad, the paperwork you would use is dependent upon the type of lease purchase deal. Give the specifics of the deal and your position in it, and I can tell you exactly which forms to use.How long should the option between myself and the seller be?The longer the better. There is value in time.And lastly what about the option to purchase between the tenant I find and the seller (when is that one drawn up and should the length match the length of lease)?Not sure what you mean with the above statement. Could you clarify? Again, what type of lease purchase deal are you referring to? Share this post Link to post Share on other sites
belliott71 0 Report post Posted March 11, 2007 Michael, Thanks for your help. I think I stumbled upon a post where you helped someone else out with the same questions I had, and now it is clear as to which forms to use. Thanks Brad E Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 12, 2007 Glad I could help, Brad. It isn't difficult, but just be sure you are using the correct paperwork with the type of deal you are doing. Share this post Link to post Share on other sites
phil43 0 Report post Posted June 9, 2007 I have a couple of questions regarding the forms used in a CA. After reading MC's manual, my understanding is that I enter into an agreement with the seller using the CA Residential Lease Agreement and then use the Assignment of Agreement to assign my original agreement with seller to my T/B. 1) Do I need to use an Option to purchase agreement too? 2) After assigning my interest to T/B, do they need to fill out another contract with Seller? I really appreciate any clarification any of you can provide. Phil Share this post Link to post Share on other sites
MichaelC 160 Report post Posted June 9, 2007 1) Do I need to use an Option to purchase agreement too?Yes.2) After assigning my interest to T/B, do they need to fill out another contract with Seller?No. What contract were you thinking of? Share this post Link to post Share on other sites
phil43 0 Report post Posted June 10, 2007 I have a couple of questions regarding the forms used in a CA. After reading MC's manual, my understanding is that I enter into an agreement with the seller using the CA Residential Lease Agreement and then use the Assignment of Agreement to assign my original agreement with seller to my T/B. 1) Do I need to use an Option to purchase agreement too? 2) After assigning my interest to T/B, do they need to fill out another contract with Seller? I really appreciate any clarification any of you can provide. Phil I was thinking they needed to fill out another residential lease agreement with seller replacing my info with their own. Share this post Link to post Share on other sites
Jason (AL) 1 Report post Posted June 10, 2007 I was thinking they needed to fill out another residential lease agreement with seller replacing my info with their own. Nah.No need to, as you're assigning that agreement (between you & the seller) to the TB. Share this post Link to post Share on other sites
phil43 0 Report post Posted June 10, 2007 Thanks for the clarification, MC and Jason! Phil Share this post Link to post Share on other sites
