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Updated about 16 years ago on . Most recent reply

User Stats

313
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87
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Michael R.
  • Real Estate Investor
  • New York
87
Votes |
313
Posts

Lease Option Help

Michael R.
  • Real Estate Investor
  • New York
Posted

I am looking to sell my property. My tenant wants it. Here are the numbers.
Sell at 31k
MY monthly PITI payment is 328.
I will rent to them for 600/mo- 200 goes towards downpayment credit. 3 year agreement. 7200 credit total. Asking 1500$ down up front option fee.
A few questions.
1. Can I make tenant responasable for all maintenance?
2. I need to write who will pay what closing costs into the contract so at end of lease their are no surprises correct?
3. Does it look like I have this agreement set up correctly?

This is my first lease option and any advice is appreciated!

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