RentToOwn-HouseFinder.com
Lease to own / option to buy the home contract?
My sister and her common law husband have a house they can't afford, and They want to give me the option to take the payments and live in it and do a lease to own contact . then have the option to buy the house within 2 years of me leasing the house in North Dallas. I trust my sisiter but not him . Where do I go and what kind of contact do I need that is will protect me from 5 years from know him teying to get his house back . I want to lease it and the payments going towards me buying the house within two years, I need to get my credit higher.
Public Comments
- realstate attorney will do this thing. go hire one, yellow page is just a flip away.
- It is great that you are helping out your family. There are lease purchase agreements available online and I have one here at my office. Lease purchase agreements are great, and you should definitely make sure there is a set price at the end of 2 years (it might be lower than real appraised value, but if the $ is too high for the market... you can walk away). Since you don't trust your brother in law, you should type up the lease purchase agreement to show that YOU MAKE THE MORTGAGE PAYMENT DIRECTLY to the current mortgage co. Send any difference to them by mail. Get with a mortgage professional to plan your credit repair (directed disputes, pay down credit cards, open new/empty credit cards). This way you will KNOW you can buy the house in the future. Best of luck! PS I am originally from Greenville.
