Can I Sell A House That I Have A Lease Option On?

Comments(8)

• 
  JohnMichael7th September, 2004

  Question: rough with it and during my option period find a buyer, can I sell the house?
  
  Answer: It all depends on the terms of the lease option. If done correctly you can sell the house.
  
  Question: How do I get my spread over what the original owner wants out of it? Lets assume that the potential buyer is going through traditional financing.
  
  Answer: Have no ideal! What would you lease opt it for? What is the market value? What would you sell it for?
  
  Before jumping into this form of investing I would suggest you take a course or at the least read a book on the subject matter before going any further.

• 
  GregTanner7th September, 2004

  thanks...I think

• 
  LeaseOptionKing13th September, 2004

  Normally, the right to buy conveys the right to sell--unless your Contract states otherwise. Does the Contract state that the Option is nontransferable and/or nonassignable?

• 
  GregTanner13th September, 2004

  I am allowed to sell the house. I just found that out. Now my question is, how do I get my spread over what the owner wants. In other words, can my spread be listed on the HUD since I am a principal in the transaction.

• 
  LeaseOptionKing13th September, 2004

  The most common way is a simultaneous close. If the Seller will give you a Performance Mortgage, you can be paid as a lien holder. Or you can assign yor Option for a fee.

• 
  dcdriver29th September, 2004

  Option King, YOU ARE THE MAN!!!

• 
  jpchapboy29th September, 2004

  here here!

• 
  LeaseOptionKing29th September, 2004

  Most people equate a mortgage with a loan; however, you can place a mortgage on property to secure any Agreement. The problem is--most Sellers won't give you a mortgage just on a L/O.
  [addsig]