how do we write an option or land contract? We are renting a house and land and starting a business. The
owner is anxious for us to sign a contract to purchase, as he is ill, but we do not have the information put together yet to make a decision. We do want to buy, but don't know how to finance anytime soon, as we have no down payment at this time. How do we proceed? They want to do something in the coming days.
Since it sounds like there is no real estate agent involved, I would recommend contacting a local attorney who specializes in real estate law. Two that I would recommend for the Covington area are Patricia Stout on the square or Susan Clark with the Clark Law Firm. Good luck!
You might try getting an agent experienced in this type of offer and sit down with all parties, a lease option might fit. That said, this seems to be something outside the "normal" box - what happens if he dies, how long for you to gather the money.....an attorney might be the best option as they can wite one specific to this issue.
Hank
You need to contact a local real estate attorney.
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