How to Wholesale Deal with a 60-day lease

How to Wholesale Deal with a 60-day lease

Daytona Beach, FL · Member since 2015 · 58 posts · 19 votes

I am trying to write up this contract for a seller who wants to live in the property for 60 days after the sale to gather belongings and move. Please advise on how I can structure this.

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  • Paul AmegatcherPro Member
    Rental Property Investor · Brookville, OH · Member since 2016 · 488 posts · 363 votes
    9y

    Easiest way will be to have two separate Contracts. One for the purchase of the property and the second will be lease agreement.

  • Daytona Beach, FL · Member since 2015 · 58 posts · 19 votes
    9y

    @Paul Amegatcher Thanks for the advice. But how can I make the seller sign the lease agreement. Do I make it part of the purchase agreement?

  • Paul AmegatcherPro Member
    Rental Property Investor · Brookville, OH · Member since 2016 · 488 posts · 363 votes
    9y

    Why won't they sign the lease?  If they sell their property today they don't get to stay for free for another two months. They have to understand that that's not how real estate works.

  • Daytona Beach, FL · Member since 2015 · 58 posts · 19 votes
    9y

    @Paul Amegatcher I am sorry, I made a mistake. I meant to say "How can I make the BUYER sign and honor the lease agreement as part of the purchase.

  • Paul AmegatcherPro Member
    Rental Property Investor · Brookville, OH · Member since 2016 · 488 posts · 363 votes
    9y

    Same rationale. If the buyer wants the deal bad enough they will honor the lease agreement as part of the sale. If they won't then find a buyer that will. Not all deals are a perfect fit for all buyers.

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