Palm Springs California - Can Someone Walk Me Through A L/O
I need someone to help walk me through this concept. I have a recently signed a L/O in Palm Springs,CA to purchase at $149,950. I'm a novice rehabber. I moved in and traded sweat equity as down payment. I've made about $500 in repairs and the place is easily worth $169,000. Now, how does this work? I don't want to stay in this unit I just want to assign the Option. My question is: Do I record my orginal L/O Contract and then Write another contract and ask for a Option Fee? What Really Works...Step -by-step?
Thanks a bunch....
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