Question About L/O And Subletting....
Ok, when you do a lease option with a seller, and turn around and do a l/o with a buyer, what do you tell the seller? Of course you tell them something because you won't be the person living there. How is this situation handled and negotiated.
Thanks in advance
Quinn
From reading various posts on this subject. My understanding is that you should be honest with the seller and inform them of your intent. Any misleading information will just sour the deal and your reputation. You shouldnt disclose your profit numbers but at least be up front with your intentions for the property.
I agree. I buy properties in my company name so I guess I have never had this problem. My company name gives it away!
You might consider the same for tax and legal purposes.
Always shoot from the hip...staright forward and honest...the right to sublet needs to be in your agreement with seller for this to occur... and is helpful if you have access to show property (if occupied) to show potential tneant / Buyer