L/O vs. Contract for Deed
Alright everyone, just wanted to post this, it's also on the blog at www.OKWholesaleProperties.com. I did not write this and it is sited as such, but I thought it was good info to possibly help an investor try to decide between the two ways of selling a property. We typically use lease options primarily because I am not privvy to any cases where landlords have been sued for equity in Oklahoma when using a lease option. In addition, it is much easier to evict a tenant than to proceed with a foreclosure process. We also usually tell our tenants and build into our L/O properties that the tenant is responsible for all repairs under $1000 which can alleviate some of the pain of being a landlord.
Lease/Option vs. Contract for Deed
by Bill Bronchick
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Comments (3)
Ya, much better to keep everyone on the safe side, thanks for leaving the link.
Matthew Jorgensen, almost 16 years ago
Please note that you may NOT copy and paste articles on your blog that you do not have permission to use. The author of the article owns the copyright to it, and you can get yourself in a lot of trouble (lawsuits) for taking the content and reprinting it. We've edited the post to remove the infringing content. Thanks for the understanding.
Joshua Dorkin, almost 16 years ago
Excellent summary of two fundamental tools.
Jon Klaus, almost 16 years ago