Landlord Question and Answer Forum
I have a tenant that would like to buy my house, but is having trouble getting a loan due to difficulty verifying tip income (works at a casino.) He is willing to pay my full mortgage of $2000 per month (going rent for a similar home is about $1400.) For now we are using a month-to-month lease, but we would like to rewrite as a sale "by owner" and require $2000 payments with a fixed amount due in 18 months; no prepayment penalty. The buyer believes by showing his lender an ontime payment history he will be able to qualify for a loan.
Any advice on where I can find this type of lease-option document and avoid a realtor?
Chris A, AZ on Wednesday, June 10, 2009
RE: Lease with option to buy
If you go into the lease builder on this site, in Step 10 you can select an option to make the lease a lease-option agreement.
Posted by
Ralph F, CA
on
Wednesday, June 10, 2009
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