I am currently locked into a 1 year lease with a purchase option. My neighbor is willing to pay me $25K above the agreed upon purchase price i have with the owner. can I assign the purchase right or do I need to deal with the owner then sell to the neighbor? All ideas/suggestions are greatly appreciated,
Thanks,
Greg
Greg
Does your contract say "this contract cannot be assigned" anywhere?
Karen
ASSIGNING LEASE
It states"Tenant may not assign this lease or sublet the property without landlords written consent."
Should i just offer to buy it at the agreed price and lock up a deal with the neighbor to fund the purchase from my landlord?
Thanks,
Greg
Greg
You really need to have your bio filled out. I have no idea where you are located. Things like that can make a BIG difference in advice.
Karen
Greg
That clause is probably in the Lease Agreement. Do you have a separate Option to Purchase Agreement?
To answer your first
To answer your first question, im in Corpus Christi, TX. The house was on the market for several months and the owner had gone through a lengthy divorce. He was asking $335,000 without a lease option. I met with his realtor several times and got him to agree to lease the home with a purchase agreement and purchase price of $285,000.
There is not another contract, but I have developed a good relationship with the owner. He gave me a great referral to my new landlord in Florida (where im moving in mid June, 2013). What are your thoughts?
Greg
Greg
Very important knowing that you are in TX! TX and NC are the two states in the country where L/Os are very ... picky.
What you have for a L/O "agreement" is probably not "legal" in TX if it were challenged in any way. I know, because I have studied them for there and have contracts that are legal in TX.
So, do you have an agreement of any kind, in writing, for a purchase agreement?
Greg
Ck your PM
Im not sure what my PM is?
Im not sure what my PM is?
PM
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It will take you to your messages. Click on the one from me. On the msg. Not the name