Who pays the HOA in a L/O?
When purchasing a property on a Lease Option, who pays the monthly HOA?
Who should pay when selling on a lease option?
Thanks,
Eric
When purchasing a property on a Lease Option, who pays the monthly HOA?
Who should pay when selling on a lease option?
Thanks,
Eric
Quote:
On 2003-05-19 11:19, maikranz wrote:
When purchasing a property on a Lease Option, who pays the monthly HOA?
Who should pay when selling on a lease option?
Thanks,
Eric
It depends on the negotiation. If you are buying on L/O and you expect to exercize the option, you should probably pay it and pass it on to the T/B however you can charge a higher rent and pay it yourself. Just do what's neccessary to turn a profit.
Good Luck,
Shawn(OH)
maikranz,
You need to check your local laws (or call a local Realtor [it's cheaper]). some states don't allow you to have your t/b pay the hao. But, what's to say you can't raise the rent to cover it.
[addsig]