More ? on Purchase Options
If I am understanding correctly, buying a property on l/o, subject to the existing financing, subject to an occupant in property, then collecting a deposit on the property from a t/b that applies as or toward the down payment while the t/b arranges financing. typically my l/o would be for a longer term than i would issue the l/o for the t/b. If i have gotten my terms mixed up, someone please clarify. also, lease option or purchase option forms for this type of transaction, are they readily available? I am guessing that they are, as long as you know what contingencies to add. tell me if i have a grasp on this or not. I have not finished Finkel and Conti's book on p/o investing, but i think i am getting the general idea, yes?
Comments(0)