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What is the meaning of a lease option in a rental contract in USA? We are looking to sell our home in Orlando, FL. A prospective tenant is seeking to rent the home for $ 1700 per month for one year with a "lease option" to buy at $425,000, which is amount we wish to sell the home for at this point in time. We live in the Middle East and do not understand the word "lease option".

I am selling my house with a lease option. How does a lease option effect your debt to income ratio? I am selling my house with a lease option. I am wondering if this will effect my debt to income ratio when I try to get a loan for a new home.

How do you sell a house using a lease option agreement? I want to lease my home with an option to purchase. I want to know if I can do this by myself or if I need a realtor. I know how much I want for selling price, option payment and rent per month. Thanks in advance.

If you lease option a house out, who is resposible for the property management and repairs? When you lease a house out, with the option to purchase...who is responsible for the repairs and maintenance of the home, the owner or the person leasing who may or may not exercise their option to purchase?

Lease Option to Buy a Home Deposit in CA, Is this deposited into an escrow account? I am trying to fin out if in the state of CA, does the owner of a property who is offering a lease option to buy get to pocket the initial option to buy deposit or does it have to go into an escrow account until the sale of the house? Same thing with any additional amount above the rent, does this get deposited into an escrow account as well?

Is it possible to do a 1031 exchange on a property which I plan to sell with lease-option / owner financing? I have a property/home in which I am putting on the market. If I sell the property on a lease-option to buy or owner financing, would I still be able to do a 1031 exchange? If so, then how and when (upon signing the contract or pay-off (2 years))? Please include details in your answer. I can also add details if more info is needed to the question.

How do I regain rights to a home I own that is under a lease option contract where the lessee is in default? I live in Utah. The Lessee has subleased or rented the property (which is ok). The lease agreement says that if the lessee doesn't make a payment, I need to send a notice of default (which I wrote up and faxed to the lessee). The lessee has 5 days to cure such default (which they haven't). Since they didn't, I now have the right to terminate all rights they have to the property. I don't necessarily want to evict the current tenant. I'm willing to write up a contract with them so they can stay. I need to know if faxing the declaration of default, that I wrote up is legal "written notice". I also need to know if there is anything else that I need to do legaly so I can bypass the lessee and go to the current tenant and sign a contract with them and just have them start paying me.

What are the typical provisions of a lease/option agreement? i.e. Down Payment, Rent, etc.? I am currently renting and a home across the street has recently become available for sale by owner. I have recently applied for a mortgage but my approval requires me to complete several items that may take a few months.I approached the owner with the possibility of a lease/option agreement so I may move into the home and leave the rental property. The owner mentioned today an option "fee" of $7,500 and monthly rent of $1,500 with a final purchase price of $173,900. Does the option fee typically get applied to the purchase price when I complete the sale? Should I request a percentage of my rent to be applied to the final purchase price as well? I haven't received any of the paperwork yet but just wanted some ideas. I am new to this.

How does selling your home with a lease option work? 10 points to whoever provides the best answer and a reference. I need to know where to find the contracts, when the title transfer takes place, whether you file the contract with a title company, and how long they normally take. What is a normal down payment? How long is the contract normally?

What are the tax liability with a lease option to buy as far as leasing my home as oppose to renting or sell? If all the lease payment with credit toward purchase goes into paying mortgage does that change my tax liability

Has anyone ever done a lease option or rent to own deal on a new home? i was looking into lease options or a rent to own situation but don't know if they are a good deal or not for a 1st time homebuyer with poor credit.

If I obtain a lease option on a house, can I put then sell it to someone else as a land contract? I am particularly concened with the tax issue. The tax break would go to the owner right? Can you write a land contract where the tax break stays with the original owner? Is the best way to handle this just optioning it out at a higher price?

when working with a lease option, when does the option consideration have to be paid to the owner of the house i'm having trouble with this, if I get a house on a lease option, and want to lease it to somebody else, do i give the owner the option consideration money as soon as i get the house, or as soon as i get the tenants in?

Will I have to pay capitol gains on a property I just bought but lived in for two years with a lease-option? two years ago a friend and I bought and moved into a house together with a tic agreement, and then we created a lease option agreement between us that I would buy his share of the house after two years. This was a contract between him and I and it wasn't notarized. I gave him a non-refundable down-payment and I pay the mortgage. Now as am am about to get the financing to buy his share out-right. Then I would like to sell the house. Will I have to pay capitol gains tax on profits from my partner share that he sold to me, considering I only just outright bought the house, even though I have lived there for two years and agreed to buy it two years ago and payed him some then and payed the mortgage since?

Average Cost of Real Estate Attorney for Lease Option To Buy Contract? Hello, We are in California and looking to obtain a Real Estate Attorney to assist with a Lease Option To Buy Contract for California. We wanted a general estitmate of what a Real Estate Attorney may cost/fee to review a Lease Option To Buy Contract and advise us appropriately. Has anyone used a Real Estate Attorney for Lease Option To Buy Contract here in California? If so, how did it work out for you and what was the average cost? Thanks in advance.....

Will a duplex or a single family home with a lease to own option generate a better return on investment? This will be my first property purchase. If I decide on a duplex or triplex instead of the single family I will most likely live in one of the units although I can be content with my current living arrangements depending on the income generated. Any view points will be appreciated.

Signed a lease option contract but the owner died. Will I need to negotiate a new contract with new owner? My company signed a 3 year lease/option contract for a building that was onwed by a widowed women. But before we could initiate the option to buy she died one year later. Her only daughter later on inherited all her assets and told us we must signed and negotiate a new contract. Do we have to negotiate a new contract or do she have to honor the contract that we had singed with her mother before she died?

should my land lord send me written offer to purchase when i have a lease with first option for 2 years? my land lord sold our home we are paying on for 26,00 dollars to someone else while we are locked in a 2 year cointract to purchase said home with option . the house sold in the first 4 months of us living here . we put down a substantial option fee and 100 dollars of our lease payments go toward the purchase price . i feel this is fraud we have a contract with a management company thaT OPTED out the first 3 months of us sighning . saying pay the owner we did in good faith the owner the sold the home on april 7th 2009 for 28 thousand less then the contract price . we sighned the contract oct 122009 and it is in effect till oc12 2011 so wher is all our credits goibg i never signed i piece of paper with the new owner i feel she has no right to our home and we have been defrauded in a serious way please help me and my wife with some good news we are sufgfering with this injustice this was just one qusetion i wanted answered but also please if you would help with the fraud and harrassment of all the troubble we had to go trough and still are and can he and the new owner get sued also the original management company which i hold the valid contract with in the contract it states that the land cannot be sold or re-rented until the last period of tenancy which is oct12 2011 well it sold in the first 4 months and we didnt fid out until 27 days later

How exactly does lease option to buy work? I have around a 640 credit score. I still have a couple things to fix on my credit. I need to to a place by the end of the year. I will not have enough for a big down payment to buy. Is Lease option to buy the right way to go for my situation?

can i lease my home with option to buy while i still have a mortgage payment ? this is in cal.im getting conflicting info. to some one else not to my self.

What is a lease option and how does it work? I was going to approach one my tenants to see if he and his family would be interesed in moving in a house. I would buy the house and do a lease option.. What do you think?

Where can I find sample lease option contracts I would like to find a few sample lease option real estate contracts to understand the verbiage and terminology. I know these are available for a fee but I would like to skim a few before really investing the cash. I will follow-up all findings with a real estate attorney of course.

What is the best source to find lease-option properties in Los Angeles? I am interested in finding lease-option properties in Los Angeles. I use Craigslist but would like to find many more sources. Is there a way I can access the MLS and search for LOPTs without using an agent?

Anyone know of a house with lease option to buy in or near Charlotte, North Carolina? Need 3 bedroom house for family to relocate soon.

Do I need to have a notary present for the signing of a Lease Option Contract? Do I need to have a notary present for the signing of a Lease Option Contract?

Need Attorney: Lease Option To Buy - Rent To Own? Hello, We are doing a Lease Option To Buy on a Rental and looking for a Good California Real Estate Attorney to review and assist with the Contract. However, we need to confirm in our search what type of Law-Attorney this would be or is considered in California. Would this be a Real Estate Attorney? What type of Lawyer would we need to review a Rental for Lease Option to Buy??? Thanks in advance. I want someone to "CONFIRM" what type of Attorney this would be. Thanks.

What is a lease option for renting/mortgage? I've just asked a Q about having bad credit and wanting to get a mortgage, some one answered and said i could ask the landlord for a lease option, could some one explain what this is pls? Also said to get the landlord to give me first right of refusal, well shes a very nice landlord and has already said she would love it if we could just buy it off her as she knows how much we love the house :) xx

Is a lease option a good alternative to owning a home? My husband and I want to upgrade to a bigger home, but we don't have the money or enough equity in our current home to do so. We've thought about selling, using the profit to pay off debt, and make a fresh start by renting again, but I just heard about lease options. What are the advantages and disadvantages of lease options and what should I look out for considering one?

How does a Lease w/option to but work? We are currently looking for a home, but we lost our home to foreclosure and are filing bankruptcy.We are considering a lease with option to buy, because we need time to clean our credit up but don't want to move our children again. Are we going to run into problems since we will have a bankruptcy on our credit? And do you have to have alot of money down? So, if anyone can help how does this work?

What should a company maximising EVA use discount rate for evaluating buy vs lease option. Is it WACC or bank? Normally a company evaluating buy vs lease option will use its borrowing rate from the bank to discount the cashflows. However if a company's goal is to maximise its EVA, then for evaluation of lease vs buy decision, the WACC rate should be taken as the discount rate instead of the bank rate. Otherwise company may take a decision which may lowever its EVA. Please help me to solve this.

How is lease option consideration taxed? I leased / optioned a home and was given $5,000 in non-refundable option money.

Not moving in to a rent to own/lease option? We signed a 3 year lease w/ $10,000 in option money already paid. Our move in date is not till June 5, 2009 and we have found a buyer for our current house that will lease back to us at a substantial savings. Is there a way to cancel the contract without losing any of the money. I don't have a copy of the contract yet, the owner just signed their portion, but I can get it. Any thoughts?

wanting do buy a home using a lease option? I am looking into a lease option here in oregon since I do not have the income documentation to secure a home loan and was wondering what the best approach to this was? What's the best way to find sellers will to carry the contract? What kind of terms are negotiable? pros and cons?

Does anyone know where I can find a copy of a residential lease option to buy? I need a lease option to buy contract for the state of CA.

How does a lease with option to buy exactly work? Suppose I rent a house out with an option to buy. How much extra would I charge a month for the option? How do I know what price to agree on? Suppose the house is worth $120,000 right now, and I rent it out for $1200 per month. How would I do the transaction? The house would normally rent for $1200 a month. How much would the new monthly rent be with the option included?

How would a rent to own home lease option work if one of my roomates does not intend on buying the property? I plan on applying for a mortgage to purchase the house within 18 months. However my roomate only plans on staying for a year. How should the lease be written up, to be both legal and fair to the both of us.

How can I lease w/ option to buy when a realtor is involved? The house has dropped in price and is sitting on market. I need strategies to talk to realtor about leasing w/ option to buy- I don't think she has presented this to seller b/c of commission.

Where can I find a home with a lease purchase option in Chicago? I'm planning on moving into my own place but instead of getting an apartment I would rather move into a home that would allow me to do a lease purchase or rent-to-ownbeing that I am the single parent of a 2 yr. old son and am taking care of my sick father. I just would like to have some research so that I could way my options

Is a lease/option legal without a disclosure statement on the home you are buying? I did not get a disclosure statement... It was Ohio and I did not get any disclosure, now the whole back yard floods and there are other defects in the house that were not visible.

Real Estate Question: Lease to own option and adding a person to the title of the home? Person A owns the home and offered person B a "Lease to Own" option. The lease to own option states: 1) Person A wants person B to pay %50 of the property taxes during the lease period. Person A will add person B to the title of the home so that person B can claim the mortage payments & property taxes as a credit at the end of the tax year. However, person B is not on the loan. 2) When person B excersices the purchase option at the end of the lease term, the purchase price will be the balance on the mortages + any outstanding taxes owed on the property such that person A can leave the transaction without owing anything. If person A defaults on the mortage/loan and forecloses, what does that mean for person B? Will person B also be liable for the loan?

I am currently purchasing my vehicle and want to convert it to a lease - less payments - is this an option ? I now have an Altima Coupe 3.5 - The payments are livable but with gas prices would like to reduce them - is leasing an option for me?

Is a lease to own option legitimate when purchasing a home? I am considering a lease to own as an alternative to buying a home outright. The reason being that I do not have the capital for a down payment and my credit isn't exactly wonderful. How is a lease to own supposed to work...during the lease, who will be responsible for repairs to the home, property taxes and homeowners insurance. Will I be responsible as soon as I move in or after I actually assert my option to purchase the home at the end of the lease? What should I be looking out for to avoid getting scammed?

Is there any tax advantage for a person to lease-option a home rather than just renting? My husband and I own a home that my daughter rents and we would like to be able to allow her to get something out of it tax-wise since she can't buy it outright at this time, and we're upside down in it anyway.

What is the difference between owner finance & lease option to buy? Were can I get the documents?

Leasing with option to buy, but no lease? Please read? I am writing this for my parents. Basically a couple years ago they put down 10,000 dollars on a house that was suppose to be put into their name and financed by them to buy out the owner. A year after living here they still couldnt get the financing. The owner of the property never reinstated a lease of ANY KIND to them but still wants them to live here and try for financing next year. The owner (who really doesnt own the house, just has power of attorney of it) comes by and harasses my parents weekly for MORE money. He charges them 750 per month, and asks for a 50 dollar fee to come pick the "rent" up, even though he lives in the neighborhood. He has also saved checks and tryed to deposit old checks that he ended up getting cash for because he has come to their house and demanded it. My parents have never really even been late with the rent. They keep getting charged off the wall "fees." The owner of the house never gave them a new lease, and the expired lease-option-to-buy papers were never signed or notorized. It seems to me like this owner is a shady one. My parents have asked for their 10,000 dollars back because the owner will not re write a lease or give them any kind of legal documentation for the house. They just "live" here and keep paying because they are unsure about what they really NEED to do. The owner is now threatening to evict them but how? Theres no lease, no real verbal agreements just alot of threats and unfufilled promises. I advised my parents to retain a lawyer in case he does try to evict. Can anyone give some insight as to what they should do. Please dont respond with ... "they should move" because they already know that they should.. we are just wandering what kind of legal recourse they have in the matter. State is alabama which I beleive requires a 10 day written eviction notice and court procedures.

Is a lease option to purchase worth making the payments? ... Or could just saving just about that much amount for a down payment just about the same? Thanks firemedi & lisalaub. Firemedi, I'll email you, thanks for leaving me answers to my questions. You all have a good night.

Lease option to buy for land? One of our homes recently got burned down (thankfully no one was hurt). We now have this property in a subdivision that we don't really want. The neighbors are interested in it, but can't pay full price for the land. Can I complete a lease option to buy for land? And what other options do I have to get more cash or cashflow from this land? Thanks for the help in advance!

If I sell a house as a lease option are the tennants liable for the debt? Or are they only liable for the debt if they are approved through a lender. For instance can I "become the bank" without be liable if the tennants fault on a payment. Or is it still on me.

What exactly is a lease w/ option to buy? We are going to be leasing a house for the next year. We found a nice house that we think would be great for us. The owner has mentioned that we could do a lease w/ an option to buy. It sounds attractive, but is there anything that I should be cautious of as a buyer? It doesn't seem like it commits me to anything and she said she would take a portion of the rent paid and apply it to a down payment if we choose to buy. She isn't going to charge me more to do this, so would it be wise for me to do? Also, what is typical of the amount paid that would be applied to rent? I'm leaning toward doing it, but if anyone w/ more experience can help me I would appreciate it. Thanks

Dangers of land contract? lease option? My daughter is wanting to move option#1 lease option 1500 down does not include first months rent, nor does it include appliances, they have to acquire renters insurance and the payment is 625 per month the 1500 is a lease option fee what is that? after 2 years they will have the option to purchase the home. option#2 land contract 1500 down 525 per month 8.8% interest completely remodel and does include appliances any one have any positive or negative issues to share with me?and/or things to check out?

In lease-option home deals, how much (%) of rent should go to the down payment? I am looking at purchasing a home and want to know what we can or should ask for to go to the down payment. We WILL buy the house (so lease-purchase vs. option). Thanks!

what are the pros and cons of the "lease to purchase" option when buying a home? I would like to purchase a home, however, my credit is not the best... I recently learned of the "lease to purchase option" when buying a home. Since this is totally new to me, I would like to know more about this option, can anyone offer some advice?

Lease early purchase option - only the lessee or others too? I want to terminate my lease and found a buyer who is willing to pay the early purchase price. Is the early purchase option applicable only to me, or also to the other buyer? Can the dealer refuse to sell to the other buyer? The lease is with Toyota Credit.

Where can I get a Lease Option contract that is legal/valid in Delaware w/out paying an attorney to draft one? I have one that is valid in Maryland, but real estate laws may be different in DE even though both states border each other. I guess one lower cost alternative would be to have an attorney in DE review the one I have for MD so he/she is not starting from scratch.

what is a great online resource to find listings for lease option homes in Henderson Nevada? i have tried google and found a little there is there some kind of special real estate listing for this catagory - rent to own , orlease option

how do i find a lease-option on a fixer upper home in the bay area? are there special agent/brockers for this, a special websight, other than craiglist? The market and growing forclosure rates ought to incurraige this kind of deal. How to a get one?

On a Lease Option to buy for a home, what is the longest lenght you think a person might lease? The min. is one year, I was just wondering what is the norm, and what is the longest amount of time to offer. Is five years ridiculous? I mean....I know thats a long long time... but what do you say? Isnt it all about negotiation? Is there a way I could negotiate them into a longer length of time, and offer them something else on top?

Sparta Illinois home for rent, sale, lease option? I have not been able to sell a home that has been vacant for several months. Now am looking to rent or lease option to purchase my home. A job move forced me out of the area. Any ideas or past challenges that have been expieranced.

Lease with Purchase Option? I am in a lease with option to purchase. The house had oil heat (which had a very slow leak), and when it came time for the AC to be used, the chiller had so many leaks it needed to be replaced. I have written the landlord and have confronted him about it. The local HVAC repair suggested a new system since the currnet system is so old (I think 30 years old). When the landlord go the recommendation, he went out and bought a new heat pump system, but he asked me if I was willing to pay for the installation. I told him no because the option to purchase was still a year off and it was his responsibility. So he said he was only going to have the AC section installed and not the total system. After arguing for 20 minutes, he asked what about if at the time of closing that I pay for the installation. He wrote out an addendum to the purchase stating that I would pay for the installation at the closing of the property and we both signed it and he made a copy for my records. My question is "Is this legal"? And is this a binding addendum?

I have a lease option on a property in Las Vegas I think the owner is in default how can I check this out? I have the account number for the property but the bank wont give me any information.

if you have reaaaly bad credit and you are buying a house on a lease option? we have paid a big down payment we are worried about getting financed is there any way at closing on the house the realtor if he agrees pay off our debt can we get financed we have made all of our payments on time for a year for our home and we put down 10% but our credit will be the only thing holding us back.

How does a lease option work? Where do you advertise to do one?