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can i sell my home with a lease to purchase option if there is a lien?

I bought a home over a year ago and have tried to sell it through a realtor. Now, I have decided to sell it by owner. Can I perform a lease to purchase option contract even though I am paying the home loan to my mortgage company?

Public Comments

1. No you cannot because you do not have a clean title to the property.
2. You could, but you would probably be in violation of the terms of your mortgage. Read your mortgage as it should have a provision that says you will occupy the property as your residence. If you were to rent the property and your mortgagee learned of it, they can call the loan due. realtor.sailor
3. You can not transfer the title without paying the mortgage off, but you can have a lease purchase agreement that states you will pay off the mortgage when the buyer secures financing ... that will all take place at Closing. You need to establish what share of the lease payment will go toward principal (down payment) if the buyer does purchase, and establish the selling price.
4. you can be the land lord on the lease purchase but you cannot transfer title till the loan is paid in full. You are still responsible for payments every month. Have the tenants pay you by check only on the first as when they can get bank financing they will need a paper trail