Olana.lag, Renter in Colorado

What would be the terms of a Lease Option ? Thank You!

Asked by Olana.lag, Colorado Mon Mar 11, 2013

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This question was asked from this property: http://www.trulia.com/rental/3044429496-5205-Cedarwood-Dr-Ra…

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Actual terms for a lease option are typically negotiated between owner of the home and potential buyer. This negotiation includes the term of lease, monthly fee and sales price at end of lease. As Rrealtors, we are not allowed to draft these contractrs and they are required to be prepared by a qualified attorney. I am currently going through this with my daughters home in Durham. The state also changed how these have to be drafted into contract now and they have become much more elaborate. The attorney I typically use for closings actually says the amount of paperwork and research required on the home has increased so much that they don't really care to do these and as such are charging over $500 to draft up these contracts. I have heard of some who are doing the contracts for the $200 range. This is typically a buyer expense up front.

If you would like to persue this, I would first suggest viewing the home to ensure it's something you would be interested in and then go from there. Feel free to call me if you would like to see this home. 919-795-5447
0 votes Thank Flag Link Tue Mar 12, 2013
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