Seller Financing & Lease Option

[Account Closed]

Hello all, 

For seller financing, everywhere you hear that seller financing's main risk is if the buyer defaults. But if this happens, can't you take the house back because you would've had a lien on it anyway?

For lease option, since you agree to a predetermined price earlier, can't you wait for the market to go up, and then buy at the cheaper pre determined price, assuming real estate does go up in price?