OfflineHi all:
I have a renter who wants to buy my house in November. Reason being that I was going to put it on the market right now.
They asked me to draw up a contract that they will sign now, stating that they agree to purchase the property (all cash) by November 30th.
It is not a lease with an option to buy, but a little different.
Is there a form I can use for that, or should I come up with one on my own?
Thanks in advance.
Yuri
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Hi Yuri,
There are several ways to accomplish what you wnt to do. A contract for deed would be a good way. The contract should be drawn up by an attorney. It can specify the purchase amount, any payments they will be making between now and then, who is responsible for maintenance, taxes and insurance are all things to consider in the contract. Typically in a contract for deed, transfer documents are signed by you as the seller but not filed. The property remains in your name until the contract is complete. The documents are held by a third party such as a title company. This type of contract shouldn't be too expensive to have prepared.
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This makes perfect sense. Thanks
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --