Least option - State of Texas

[Jay Dean]

I am researching lease options and how they work.  I am specifically interested in knowing the pros and cons of a lease option within the State of Texas. 

I assume that state law has some bearing on the answer.  If you aren't in Texas, please make that clear in your response.

Also, I am asking as an investor that wants to sell a property with a lease option.  I am not looking at this tool as a means of acquisition.

Thank you.

[Greg H.]

You need to give the buyer a lot more than that to do a LO for more than 180 days

In addition to the lien info you must provide:

-Copy of Survey

-All the property insurance info

-Seller's Disclosure

-Tax Cert

-Copy of any restrictions and covenants as well as HOA if appl

-Annual accounting and proof property taxes are paid

-Amortization schedule

I think I missed some others