OfflineI'm a 29 year old landscaper living in southeast Virginia. I see plenty of nice homes in communities during my daily grind which makes it easy to keep my focus on the big picture. With horrible credit I currently rent, but I am extremely determined and like they say persistence pays off...
| Title | Poster | Replies | Updated |
|---|---|---|---|
| What happened to the Purchase Agreement? | yadabnns | 9 | 10 years 25 weeks ago |
| MY first Deal 30k !!!!!!!!!!! and after | Calvin21 | 29 | 10 years 35 weeks ago |
| Wholesaling MLS Properties | yadabnns | 3 | 11 years 4 weeks ago |
| lease option question | yadabnns | 96 | 11 years 30 weeks ago |
| Option Contracts | yadabnns | 5 | 12 years 3 days ago |
Thanks for asking this question.
The lease has to be setup for the lease-option at the begining of the lease. If the tenant buyer does not take the option then they can sign anew lease or move out and yuo will have to give them their money back.
Alton I'm glad you asked the questions because I am ready to start my L/o's and assignments, so your questions got many responses and all very good ones @ that. I got alot out of it so thanks. Sincerely Eric
Correct me if I'm wrong but if your contract says non-refundable isnt that what it means if structured properly? If your tenant/buyer renigs or defaults on lease payments dont you now have the right to evict?
Thanks Eric
lease option questions
Hello DG family. I not realy confused, just want to make sure I have the right idea about lease options. Is the renter able to exercise their right to purchase at any time, or does it have to be at the end of their lease agreement? Also, is the option money their downpayment should they decide to purchase? Finally, if the tenant doesn't purchase the property do they receive their option money back?