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What forms to use?

Posted on: Thu, 09/15/2011 - 20:03
What forms to use?

I could use a little help...

I've got an REO property that a local bank is prepared to do 100% financing on for me with great terms.

I've also got a Tenant Buyer with a down payment and can afford a monthly payment about $250 over what my mortgage payment will be.

Can someone give me a little detail on what forms I need to file in order to do a Lease Purchase with the Tenant Buyer?

Thanks for any and all help,

Stephan

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Stephan Roberts
"In absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia!"

Here is a FREE property analyzer I've found:

https://tvallc.infusionsoft.com/go/RehabLite/sroberts/

It's a great tool to use to help analyze your deals (and did I mention it's FREE)! But, you really should spend the $97 and get the full premium edition! IT'S AWESOME!!


Posted on: Thu, 09/15/2011 - 20:58 #1
RE: Forms to use

Stephan,

Sounds like a great deal! You can use some forms that Dean has, but check with your state first.

My agent is questioning whether I can use my own forms or not. The problem is she is used to her state forms because she is an agent. I have a serious question because I want to make sure the exit is in there, and not just as an addendum.

Good luck and keep up the good work!

Peace and Success,

Julie
Wisdom Real Estate Investing


Posted on: Thu, 09/15/2011 - 22:04 #2
Hey MissJulie...

Everything looks pretty good on this... I just want to get all the right paperwork done. Smiling

I'll update the whole DG family on the details once it is actually completed.

Thanks for the support,

__________________

Stephan Roberts
"In absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia!"

Here is a FREE property analyzer I've found:

https://tvallc.infusionsoft.com/go/RehabLite/sroberts/

It's a great tool to use to help analyze your deals (and did I mention it's FREE)! But, you really should spend the $97 and get the full premium edition! IT'S AWESOME!!


Posted on: Thu, 09/15/2011 - 23:47 #3
Stephan

You need to use a Lease Option Contract and a separate Residential Lease Contract where you do not make any mention of L/O.

PM your email address to me. Be sure to spell out the (at) and (dot)com or it will delete all of the address after the @. I will send you good CYA contracts.

Karen

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Posted on: Fri, 09/16/2011 - 00:13 #4
I am california can someone

I'm in california can someone help me to find the correct forms for a lease to own.

Thank you in advance

Best Regards to all

Miriam Zamudio

"you wont be tire when you walk the extra mile to succeed"

"whats meant for you it will always be even if you dont want it"

"Believe in yourself, dream as if you'll live forever, live as if you'll die tomorrow"