Purchase Agreement OR Option Contract - Which One Do I Use?
I have a deal that I wanted to buy sub-to...but because of $5,000 in back payments and $25k equity, I may sell this deal to another investor instead. Hopefully it requires little or no repair.
What I'm not really clear on is what contract to use. I'm assuming that the Purchase Agreement is much more "formal" than an Option Contract. So which one would I use?
And will I be looking for a cash only deal? I mean I can't be showing this house off to a bunch of conventional buyers...if the owner is still living there, right?
Thanks youz guyz!
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