Lease option- two parts, an option to purchase the property after a set time for a set price- you pay for this option; this is combined with a standard lease for the time until the option expires.
Subject to- you take title, subject to the existing mortgage that is held by the seller, kind of like buying a car and taking over payments.
Getting the Deed is always better and safer; however once you have the Deed, in my opinion, I think selling via a Lease Option is the best way to make money with the least risk.
[addsig]
Comments(0)
Very different.
Lease option- two parts, an option to purchase the property after a set time for a set price- you pay for this option; this is combined with a standard lease for the time until the option expires.
Subject to- you take title, subject to the existing mortgage that is held by the seller, kind of like buying a car and taking over payments.
Read, read, read!
Chris
Getting the Deed is always better and safer; however once you have the Deed, in my opinion, I think selling via a Lease Option is the best way to make money with the least risk.
[addsig]
King,
Why do you say that selling the property via Lease Option is the best way to make money with the least risk?