Lease/Option And "Flipping" Rules....

Okay,

So you have a home you are "sandwiching" and you have tenant in the home who you come to find out has good enough credit to get financed.

If their credit is decent, I am guessing that their options may revolved around FHA loans and sub-prime loans. When they go to take the option from you to buy the home, aren't you in a sense flipping the home to them at a higher price?

If this is true, won't this trigger some things? and is there ways to get around it...or am I just thinking about this all wrong.

Thanks,

Christian "The Solutions Kid" Beebe
[addsig]

Comments(3)

  • SolutionsKid31st October, 2003

    Come on guys (and gals) it's been more than five minutes and I haven't received the answer to all my problems...dangit, this place stinks

    [addsig]

  • Jyaning31st October, 2003

    Read your own post "When they go to take the option from you to buy the home, aren't you in a sense flipping the home to them at a higher price? "

    What they take? House or option? So what you flip?

    If you flip a house, they can not get FHA/VA. If you flip option, there is no triggering event except you need to make sure you are just flip a option.

    Jya-Ning

  • classimg31st October, 2003

    So what is the next part of the deal?
    [addsig]

Add Comment

Login To Comment