Hi. Is 10% downpayment on a lease option a standard downpayment on mhps and mh on land? I remember reading not to put down more than $5,000 on a lease option. However when I’m making offers out here the sellers’ are saying they want at least 10% down on a lease option. Do I stick to $5,000 maximum down payment-eventually get a seller willing to cooperate?
Hi Hannah,
Leases and Options are mutually negotiated contracts. Present your points, acknowledge the sellers points, find compromises, and if agreeable to the both of you, make the best deal you can.
Karl