House Lease to Own

Craigy

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I am in the process of leasing my rental property with an ownership option. I will prescreen and quality the renter. Any recommendations on the who could write the contract? Lawyer or Relator?

CS78

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12:59p, 3/1/24

Lawyer for sure. And you'll want to discuss with them before putting details out to potential buyers.

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Agilaw

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In reply to Craigy • 2:24p, 3/1/24

AG

Be very careful on that transaction.

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James Forsyth

Joined: Oct 5, 2023

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2:28p, 3/1/24

Lawyer here. Definitely have a lawyer handle. "Contracts for Deed" in a variety of guises are a super-difficult needle to thread to be drafted properly.

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jokershady

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In reply to James Forsyth • 4:23p, 3/2/24

AG

James Forsyth said:
Lawyer here. Definitely have a lawyer handle. "Contracts for Deed" in a variety of guises are a super-difficult needle to thread to be drafted properly.

Heard the same thing.

Why not just do owner financing it's not that much different in the grand scheme of things and there's not all the same extra legal mumbo jumbo with what you're looking at.

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Agilaw

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In reply to jokershady • 5:46p, 3/2/24

AG

Better make sure you know what kind of Buyer they would be. Would need them to have some skin in the game and able to make payments and keep house in decent shape. If not and things go south, you don't control the property until you get it back and they could do all kinds of damage before you got it back.

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