Lease Option Documents Question
Please correct me where I am wrong:
If I am going to L/O a house from a seller, what documents do I need? All that I know of are the Option agreement, the Lease Agreement, and the Purchase Agreement. Should I also send a Memorandum Contract for Sale of Real Property to the county recorder to cloud the title in case the Seller tries to sell to someone else?
All of these forms should be filled out at the same time and the Purchase Agreement should be put in Escrow for the period of the Option.
Is an addendum needed for th Purchase Agreement that states that it is contingent on the exercise of an option at some later date? What would this document be referred to as?
On the flip side, when I L/O a house are there any additional documents that I need?
Thanks for any help!
iglooman
[addsig]
You are at the point where you need a course with forms included that you can have an atty. check over and make them state specific. There is language in any contract that is more advantageous as the buyer, or with modification more advantageous as the seller. Since you are going to be in the middle, you need both.
[addsig]
Do you (or anyone else) have any suggestions for a course to get? I am willing to spend the money if the content is worth it.
iglooman