That old adige is true. There are several scams out there involving these lease options. SInce you own your property free and clear, I see no benefit to you whatsoever. You don't need this "investor" to bring you a buyer. Several things to note, the Colorado Real Estate Commission has no approved contracts for lease/option or lease/purchase. Therefore, the contract should be written by an attorney. Secondly, there's a difference between a lease/option and a lease/purchase. With the lease/option the tenant is not obligated in any way to purchase at the end of the lease term. My husband is a Certified Property Manager and has always discouraged our landlords from becoming involved in this sort of thing, as nine times out of ten they never turn into a sale. Then you're left with a vacant unit again that will most likely need carpet and paint again. We have been very successful with finding renters on
http://www.Rentals.com. It's inexpensive and works very well. Good luck with whatever you decide to you. If we can provide you with further assistance you can contact us at TheEllisTeam@earthlink.net. or through our website
http://www.ColoradosBestHomes.com. - Wed May 13 2009, 13:41