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Author Topic: lease options VS. owner finance  (Read 1865 times)

Offline limst

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  • Posts: 1
lease options VS. owner finance
« on: March 13, 2005, 10:42:14 pm »
what are the differences between lease options and owner financing
« Last Edit: March 13, 2005, 10:44:28 pm by limst »

Offline johnmichael

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    • JMichael Investments
Re:lease options VS. owner finance
« Reply #1 on: March 14, 2005, 04:51:45 pm »
A lease option provides your customer a rental agreement with an option to purchase the property as an agreed option price during the tern of the lease option

Normally with owner financing the property owner takes mortgage just like the bank and deeds the property over.

Now comes the bad part, their are multiple variations in both strategies.
"Education is the ability to listen to almost anything without losing your temper or your self-confidence." By Robert Frost, Poet

Offline kbrandau

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    • Brandau Investment Group, Inc.
Re:lease options VS. owner finance
« Reply #2 on: March 16, 2005, 08:36:11 pm »
Title does not tranfer on the lease option, until the terms of the lease option are met.

An owner finance deal, title is transferred at the table, in exchange for the mortgage note, which can of course be sold to a third party.

Good Luck!
Kirk Brandau * RE Agent/Loan Officer/Investor * Austin, TX 78737* http://www.BigInc.org

Offline ZNICK

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    • Find me here!
Re:lease options VS. owner finance
« Reply #3 on: March 17, 2005, 07:29:03 pm »
It depends on how you structure it... if you "owner finance" using a land contract, it does NOT have to transfer until the agreement is completed and he cashes out.

I would suggest selling using a lease option though, it's a lot easier (in most states at least) to evict a tenant than it is to foreclose on a mortgage.

Z
My second stream of income: www.1ezroadmaptoriches.com

Offline Medscan

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  • Posts: 35
Re:lease options VS. owner finance
« Reply #4 on: March 25, 2005, 10:44:05 pm »
I agree,  

If you are selling, you want a lease option, however, if you are buying, you want an owner finance.

CLM
Chris  L. McConnell
Southern HomeStead Properties, Inc.

 




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