I Don't Get It
I am getting ready to dive into lease options for higher end homes. I am confused, however, on the paperwork involved.
Will you use the same contract for You--Seller/Landlord as you will use for You/Landlord--Tenant/Buyer...or are they different?
I have a "Lease Option Agreement" in my computer and can easily go to www.legalforms.com and get what I need (for my state). Or do they have to be more specific...attorney approved?
THANK YOU!
Just a follow-up...
Or would I use an "Assignment of Lease" for the tenant-buyer? The PA form that I think you use is called "Residential Lease Agreement And Option to Purchase."
There just seems to be so many variations. If you think I should just go to a lawyer, I will. That just seems a little extraneous for this.
Thanks again.
Or is it some sort of "Sub-Lease Contract" I would use between myself and my tenant-buyer?
One other question: Do you guys put the deed in escrow so you aren't having to hunt down the seller when your tenant-buyer cashes him or her out in a couple+ years?