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

Comments(4)

  • allandinger29th November, 2003

    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.

  • verbatim29th November, 2003

    that helps alot, now to get the ball rolling![ Edited by verbatim on Date 12/02/2003 ]

  • kcbluesman382nd December, 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.

  • classimg3rd December, 2003

    To avert a closing nightmare or legal fight, speak with the home owner and outline contracturally your intentions.
    [addsig]

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