Has anyone did a lease to purchase option in Tulsa OK and can shed some light on how to go about things?
Like you own a house you are thinking about selling on a lease purchase?
Sorry, I should have been more clear. The homeowner no longer wants his house and just wants out of the payments. He said I can take over the payments. My goal to pay it off in two years. I don't want to pay banks fees etc...
A couple options to research depending on the way you want to take title: Subject to, lease option, lease purchase, BRRRR.
@Adam Camacho Here's a lease option agreement that I drafted when I was in a situation very similar to the one you're in:
I rented out the property for 18 months to another tenant (extending the agreement for an additional 12 months at the initial expiration). After purchasing the property outright, I fixed & flipped it. I'm not a lawyer, so you'll probably want to review any such agreement with an attorney if you have questions about the terms or validity of the agreement - a couple hundred bucks is worth the peace of mind.
@Jeff O'Neal Thanks!
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