Lease Option?

2 Replies

Hi BP Friends,

So I have a co worker who has her house up for sale.  It's been on the market for about 2 months and she can't land a solid buyer.  She owes about $140k and has the house listed for $289k.  In her market she could get close to that amount maybe a bit less.   I would love to help her out and lease option the house and put a tenant buyer in it.  Does this sound like a good option?

@Shawn Connors

A perfect lease option house is

-Good safe neighborhood - quiet street

-good condition

-payment PITI = payment rent

Is the listing still in effect?  Can the owner fire the listing agent or pay off the agent for a nominal marketing fee for canceling the listing?  Remember the seller has an obligation to the agent.  Look up "procuring cause" or how you found the seller.

PM me if I can assist you in a lease option assignment, where you enter into a lease and option, and sell your interests for a fee of 3% of FMV or more.

Shawn, have you spoken to your friend and asked her what she might be willing to consider?  Is she a traditional seller, or will she consider other things such as seller financing, lease option, etc.  All of that plays into what you can do and how you might be able to assist her.

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