Becoming the Tenant Buyer: Get An Option to Purchase

A more creative way of using a lease option would be to acquire real estate using it being on the other side of the deal that would mean you get a option to purchase from a seller. Depending on the situation of the seller it may  be of benefit to them to accept a lease option instead of selling the property outright. Perhaps if they don’t have enough money for legal and realtor fees if they were to sell the property outright.

(Sample Lease_with_Owner and Option_with_Owner – Review with Your Own Lawyer is a Condition for the Use of This Agreement)

If you’re going to be able to do this you need to be very clear with the seller what your intentions are. That would mean that you would be either subletting the property or doing some sort of work on the property in order to increase its value. You would then have to secure any investment that you made in the property, against it in the form of a lien.  Then using the option to purchase agreement to purchase the property from the seller at the predefined price or sell it to the end buyer.  That way you’re using the financing of the initial seller in order to get the deal completed.  I will be sharing another way to do this through a Joint Venture or Co-Venture Agreement in the next module.