Which is better for me to do as an investor on a luxury property, lease option or LC? I will be purchasing the home in 6 months. Which one will protect my interests more?
It depends on the laws of your state. If you are in a state where the LC defaults to a Landlord-Tenant relationship, then a L/O would be better IF it is structured properly, because the Seller would have to foreclose to get rid of you. If you do use the LC, make sure it is recordable and do so. More lenders refi LCs than do LOs.
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It depends on the laws of your state. If you are in a state where the LC defaults to a Landlord-Tenant relationship, then a L/O would be better IF it is structured properly, because the Seller would have to foreclose to get rid of you. If you do use the LC, make sure it is recordable and do so. More lenders refi LCs than do LOs.
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