I am planning to lease a 2nd home with the option to buy. There is no mortgage on this house. I have no

Asked by Ginger, Madison al 35757 Wed Dec 3, 2008

idea what I need to do. Help!!

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Barry Lynn M…, , Trussville, AL
Wed Dec 3, 2008
Ginger

You need too talk to an attorney so that the option is recorded that will prevent the owner or if the owner dies their family from Refinancing the property or cashing out you don't want that to happen. A Realtor may assist you but if you have found the property and have the price worked out just go to the attorney if you would like a recommendation send me an e-mail.

If you elect not to talk go the attorney route you may buy forms online and file at court house yourself

Cost of attorney is $350+/- plus recording


P.S. YOU HAVE TO RECORD THAT OPTION FOR YOUR PROTECTION
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Dallas Texas, Agent, Dallas, TN
Wed Dec 3, 2008
Contact a realtor who can represent you regarding the contract. These types of sales can be extremely tricky unless you read the fine print. How do you know there is not a mortgage on a home, or just taking it from seller word. Keep in mind any lease/ lease option purchase your in business with the property owner/seller best to always try to obtain your own loan to purchase a home. These types of transaction in some instances lead to major problems. Also confirm there are no liens on the property
http://www.lynn911.com http://www.homes-for-sale-dallas.com
Web Reference:  http://www.lynn911.com
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