Ower financing Vs Lease Option

[Jorge Rivera]

Dear BP,

Could someone explain the difference between Owner Financing and Lease Option, Or is it the same thing? Thanks in advance.

[Brian Gibbons]

In NV

sell on lease w option, no title exchange, landlord tenant relationship

sell on seller financing

1. free and clear house, note plus mortgage or note plus DOT, title transfers, if default need to foreclose

2. existing first mortgage, sell on a wrap or installment sales contract, due on sale issue, title transfers, if default need to foreclose

Hope that helps