All Forum Posts by: Anill Judell

Thank you guys for the great response!

I must say, this site is a world of knowledge for me. These are techniques I definitely didn’t learn during my education.

Just to set things straight in my mind. I will need 4 documents:
1 Delayed Sale and Purchase agreement
2 Lease agreement with the right to sub-let and sell
3 Option agreement
4 Repair addendum to tenants purchase option (thanks Brian Gibbons for the document)

Do you agree Bill Gulley ?

@brian gibbons If I use the Delayed Sale and Purchase agreement, will I not be obligated to purchase the property at the end of my option period?

How can I record my option and protect my interests? How do you guys do it in the USA?

Can anybody provide an US Delayed and sales agreement and a option agreement so my RE solicitor can use this as a guideline for the appropriate documents here ?

Jon Holdman I think I will be a commercial tenant for the law but I will have to check this with my Legal Advisor. Thanks for the info.

@Bill Gulley excellent point you make there about the insurance policy, didn’t thought about that yet. I will have to get in to that.

Thanks a lot guys for the info. I will keep you guys posted about how this deal is working out.

greetings

Anill

Thank you guys for the great response!

I must say, this site is a world of knowledge for me. These are techniques I definitely didn’t learn during my education.

Just to set things straight in my mind. I will need 4 documents:
1 Delayed Sale and Purchase agreement
2 Lease agreement with the right to sub-let
3 Option agreement
4 Repair addendum to tenants purchase option (thanks @ Brian Gibbons for the document)

Do you agree @Bill Gulley ?

@Brian Gibbons If I use the Delayed Sale and Purchase agreement, will I not be obligated to purchase the property at the end of my option period?

How can I record my option and protect my interests? How do you guys do it in the USA?

Can anybody provide an US Delayed and sales agreement and a option agreement so my RE solicitor can use this as a guideline for the appropriate documents here ?

@Jon Holdman I think I will be a commercial tenant for the law but I will have to check this with my Legal Advisor. Thanks for the info.

@ Bill Gulley excellent point you make there about the insurance policy, didn’t thought about that yet. I will have to get in to that.

Thanks a lot guys for the info. I will keep you posted about how this deal is working out.

Greetings

Anill

Dear forum members,

I am new to the forum. Recently I trying to do a normal lease option in the Caribbean real estate market.

I have found a seller who has a property that is not completely finished. There will be an investment in cosmetics like: doors, sanitary, electrical wiring, gardening. I want to make an agreement that as a consideration fee I will finish the property.

I am planning to rent the house to tourist visiting the island
These are the details:
Asking price 324.000
Costs of repair 10.000
Monthly market rent (due to seller) 2.500
Market value after repairs 350.000
My montly income would be +/- 4.000
I will propose a lease option deal for 4 years

How would you guys as professionals look at this deal?

Some other questions:

If I understand correctly I will need 2 documents: lease and option agreement

Do I need an escrow account?

I know my seller has very good connections with the bank who financed the house. Is this a bigger risk for me you guys think? Regarding the Due on Sale?

How can I avoid being double crossed by the seller with the Due on Sale Clausule?

I hope to learn from the professionals! Maybe someday I will be one also.
Thanks in advance

Anill