Can I Sell A Home I'm L/O'ing Now & Exercise My Option?
I may want to sell a home i'm leasing for 6 years with the option to buy?
Even though im at the beginning of my lease, is there a way for the seller to prevent me for selling now?
I dont think there is but would like to verify with you all.\
Verb
It all depends on what the contract says. You can't sell a propery you do not yet own. In your contract do you have the right to assign? Do you want to assign your contract to another buyer and get a fee? Or you could sub lease it and do a sandwitch l/o it you have the right, then when your buyer buys you do a simultanious close. Hope that helps a little.
that helps alot, now to get the ball rolling![ Edited by verbatim on Date 12/02/2003 ]
I make it pretty standard that I can excercise my option at any point during the lease period, and allow the same for the tenant/buyer.
To avert a closing nightmare or legal fight, speak with the home owner and outline contracturally your intentions.
[addsig]