Help structuring first L/H transaction


#1

Working with a very motivated Seller on my first L/H Deal.

The Seller does not own the home. She has a lease with an option to buy. She claims to owe about 32K on the home.

If I decide to buy this property, the Seller will need significant funds from me to exercise her option so she can transfer title to me.

I am not sure how structure this transaction so that it is safe and legal. How do I safely give her money to close with him so she can close with me? I’ve done Lonnie’s, but the only real estate I’ve ever bought was my personal residence via a buyers agent. Real estate is new territory for me!

Any advice or direction to resources that would help me out would be greatly appreciated!

Thanks in advance,

Andy (NC)


#2

Andy,

Why don’t you call me and we can talk about specifics. You may be able to purchase her option. I have a bank who might be able to help.

Lin