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Jacob Price
Pro Member
  • Property Manager
  • Roanoke, VA
38
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59
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How to sell a note/lease purchase option?

Jacob Price
Pro Member
  • Property Manager
  • Roanoke, VA
Posted Aug 11 2020, 08:28

I have an odd lease-purchase option that the courts have effectively deemed a note. It has about $60k left on the equity, it's 100k house, and is accruing 6.875% interest. It's not clearly written as a note, but nonetheless when going for an eviction they decided that the tenant had equity. 

I'm not the first lien as I had seller financing on it when I bought it in a package, only owe 20k, so I'm curious if anyone has any insight into this type of situation. Is this something I could sell or am I stuck with it for another 16 years. 

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