Lease Purchase in Canada
Hello, we have been unsuccessfully trying to sell our house and have recently been contacted by a couple wishing to rent to own our home. She is recently out of a three year college program and her husband is less than a year into his own business. The banks won't mortgage them without 2 more years of income. She has already told me that they have $30k to use towards their purchase credit. I have been reading the forums and trying to learn what I can about Lease purchases but would love more direction. This may be a silly question, but I am such a newbie that I have to ask: would I be able to use the $30k as a down payment for my new home or does it need to remain in trust until the end of the lease term? Thank you in advance for any advice!