Answer by Lynn911.com Dallas Real Estate Agent
WELLL... most lenders won't allow anyone to assume the note. You need to check with the lender. OR your Realtor Lynn911.com
View ArticleAnswer by Larry Sotoodeh
No attorney or Realtor will touch a lease option in Texas anymore. Too many things WIII GO WRONG before you try to close. Whatever the seller is trying to do is foolish. I advise you to walk away from...
View ArticleAnswer by T.J. Mcdowell
Larry and Lynn are both right....... personally I would not do it, as a realtor, I would not be involved with this transaction..... you're just asking for trouble, spelled with a capital T.
View ArticleAnswer by John King, GRI, SFR, Broker
I agree with the others so far. Options are RISKY. Say you plop down the the $12,000, what are you going to do if the seller files bankruptcy. or allows the home to go into foreclosure? After all,...
View ArticleAnswer by Don Tepper
Well, first, be very careful in Texas. Your state has some very, very strict laws concerning lease-options. As far as how the numbers work out, I'm unclear on what your purchase price would be in 2...
View ArticleAnswer by Ralph Buller
Texas law regarding lease option purchases are almost a thing of the past. Very few attorneys will even attempt to structure one as the law seems to change yearly. No Realtor will handle one, or should...
View ArticleAnswer by Dp2
While lease-options are exactly a "thing of the past", you're not going to be able to do the transaction as you described it. It would be better for you and your seller to do this deal using a land...
View ArticleAnswer by Don Groff
If you want to do something like this you need to be the one making the mortgage payment. each month and you need to get insurance in your name and register it with the lender. Although a lender can...
View ArticleAnswer by Danny T Thompson
Enter into this type of agreement with extreme caution. Many things can go wrong. I will say that I have orchestrated many of this type of transactions over the years, ie. Contract for deed, lease...
View ArticleAnswer by Heather Peck
Your better off with a land contract or a contract for deed. Pay someone to help you, either an experienced real estate attorney, real estate agent familiar with land contracts in your area, or even an...
View ArticleAnswer by Guy Gimenez ABR, CRS, GRI
Guess I'm missing something here. We've got lots of answers but no question stated. What was your question?
View ArticleAnswer by Lynn911.com Dallas Realtor
WELLL... most lenders won't allow anyone to assume the note. You need to check with the lender. OR your Realtor Lynn911.com
View ArticleAnswer by Larry Sotoodeh
No attorney or Realtor will touch a lease option in Texas anymore. Too many things WIII GO WRONG before you try to close. Whatever the seller is trying to do is foolish. I advise you to walk away from...
View ArticleAnswer by T.J. Mcdowell
Larry and Lynn are both right....... personally I would not do it, as a realtor, I would not be involved with this transaction..... you're just asking for trouble, spelled with a capital T.
View ArticleAnswer by John King, GRI, SFR, Broker
I agree with the others so far. Options are RISKY. Say you plop down the the $12,000, what are you going to do if the seller files bankruptcy. or allows the home to go into foreclosure? After all,...
View ArticleAnswer by Don Tepper
Well, first, be very careful in Texas. Your state has some very, very strict laws concerning lease-options. As far as how the numbers work out, I'm unclear on what your purchase price would be in 2...
View ArticleAnswer by Ralph Buller
Texas law regarding lease option purchases are almost a thing of the past. Very few attorneys will even attempt to structure one as the law seems to change yearly. No Realtor will handle one, or should...
View ArticleAnswer by Dp2
While lease-options are exactly a "thing of the past", you're not going to be able to do the transaction as you described it. It would be better for you and your seller to do this deal using a land...
View ArticleAnswer by Don Groff
If you want to do something like this you need to be the one making the mortgage payment. each month and you need to get insurance in your name and register it with the lender. Although a lender can...
View ArticleAnswer by Danny T Thompson
Enter into this type of agreement with extreme caution. Many things can go wrong. I will say that I have orchestrated many of this type of transactions over the years, ie. Contract for deed, lease...
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