How do u properly set up a lease option? I know u usually give a seller a non-refundable deposit which is usually 3 mo rent and u shou;d get it notarized at the county clerks office showing that u have legal control of the property so u are in general protecting ur interest in the property. You should also have clauses in it saying u can sublease to other tenants and assign the contract to someone else. But what if the owner has a mortgage on the property and should u have an attorney draw up a contract of that type or could u use the one on this site? im confused
How do u properly set up a lease option? I know u usually give a seller a non-refundable deposit which is usually 3 mo rent and u shou;d get it notarized at the county clerks office showing that u have legal control of the property so u are in general protecting ur interest in the property. You should also have clauses in it saying u can sublease to other tenants and assign the contract to someone else. But what if the owner has a mortgage on the property and should u have an attorney draw up a contract of that type or could u use the one on this site? im confused