Understanding the forms

[salsadunes 0]

Hi Guys,

I have been marketing for sellers, and in return growing my buyers list. Alo have put a few offers together and needing to know what to put in the line 18 of the lease with option to purchase agreement? Can you help me understand this one?

 

Just so i know, With my seller i need the Lease with option to puechase agreement only. Correct? Then with my t/b i need the Lease with option to purchase, and a regular lease,correct?

 

And can you help me understand the pure option vs lease option? Which one has n advantage?

 

Thanks

[MichaelC 160]

salsa, need to know the specific agreement you are using. What type of deal is this?

Regarding Pure Option versus Lease Option, the difference is the former doesn't involve any lease. It is an option to purchase a property at an agreed to price within an agreed to time frame. Nothing more. So it isn't which one is more advantageous. Different strategies for different deals/situations/homeowners.

[Kimberly 0]

Do you plan to stay in the middle of the deal (SLO), or do you plan to assign your position to your t/b (CA)?

 

For a SLO you use the Lease with Option to Purchase between you and the seller. For your t/b you want to use a Lease Agreement and a separate Option to Purchase. When dealing with the t/b, separate agreements may make for an easier eviction should it ever become necessary.

 

For a CA you would use the Lease Agreement and a separate Option to Purchase with the seller, and then assign your position to a t/b.

[BEV! 0]

OMG!! IS THIS "THE" KIMBERLY??

What a great pleasure to see you again.

You and Tony have always been my favorite on this board through the years.

 

Where is Tony???

Hellooooo Tony, can you read me? Please Come In? I miss you.

 

Lets stay in touch, Kimberly

 

BEV!

[MichaelC 160]

Wow! Kim from OK is in da house! Welcome home, Kimmie!

[<Steve> 82]

Kimberly!!! What's Up? Great to see you back! You were a great help to me during my start up days.

[salsadunes 0]

Also have put a few offers together and needing to know what to put in the line 18 of the lease with option to purchase agreement? Can you help me understand this one?

[MichaelC 160]

Assuming you aren't planning on paying the homeowner directly each month, you will need to either pay the bank directly, (unlikely the homeowner will agree to that arrangement), or pay a third party to disperse the funds accordingly. This is where you note the specifics.

[Kimberly 0]

OMG!! IS THIS "THE" KIMBERLY??

What a great pleasure to see you again.

You and Tony have always been my favorite on this board through the years.

 

Where is Tony???

 

Wow! Kim from OK is in da house! Welcome home, Kimmie!

 

Kimberly!!! What's Up? Great to see you back! You were a great help to me during my start up days.

 

I might have to stop by more often!

 

I've moved to small town in NW Arkansas. At least I don't have to worry about having my car killed by a bridge. As soon as they got one fixed another one happened, so they closed both directions and did more than just patch it. Right now, chug holes seem to be the least of Tulsa's problems. Close to 90 cops have been laid off.

 

I haven't done much traveling in the last year, so I'm trying to decide where to go. I'll be an empty-nester starting in the fall. My son has gone as far as he can at the local community college, the only way he'll stay close to home is if Univ of Ark is the only school that accepts him. Since he's got a 4.0 GPA, I'm not expecting him to remain close to home.

 

Bev, Tony appears to have ventured into internet marketing. His "signature" is showing a scrubs website and a ferret website. His email address is on the scrubs site.