Can a tenant sell a “rent to own” home

Can a tenant sell a “rent to own” home

Property Manager · Metro Detroit, MI · Member since 2008 · 305 posts · 362 votes
Say you enter into a rent to own agreement with a tenant . The option price after all payments are made is $100k Before they make all the payments , can the tenant put the house up for sale ? Paying you the $100k and walking away with any profits ? Owner would obviously have to sign at closing . Just wondering if they are similar to land contracts in this way .
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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    8y

    Hi Keith  typically this is a lease with and option to purchase two separate contracts.. and yes I believe that is correct.

    they have a strike price at 100k house goes up to 150k over their lease term they exercise their option at 100k and keep the delta.. 

    I option land this way with the hopes of big upsides.

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