Rent to Own a.k.a. Lease Purchase, Lease Options

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Trey Crusey
  • Real Estate Agent
  • Birmingham, AL
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Bond For Deed Questions

Trey Crusey
  • Real Estate Agent
  • Birmingham, AL
Posted Jul 23 2019, 12:42

I'm in the process of selling my home and just had a realtor call and ask if i'd consider a bond for deed (i'm in louisiana).  It's on the market for $149900 and I owe ~$130k.  He was saying $15k down, I wouldn't have to keep up with repairs and they'd refinance in 2 years.  This seems too good to be true. Is there something I'm missing here? What kind of questions should I be asking to protect myself? I originally only wanted to sell it outright like you normally would but I'm getting a lot of questions about seller financing, lease option, bond for feed etc and I'm just now starting to look into this and it's a bit overwhelming when you start seeing you have to comply with the SAFE Act, Dodd Frank etc. 

Any input is greatly appreciated. Thanks!

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