First Lease Option or Subject-To Deal

[Brittany Whitney]

Hi all,

I was just approached with a house (3/2- 1680 sqft) that the owner needs to get rid of ASAP. They're 5 months behind & facing foreclosure soon. She said she would be open to subject to or a lease option. My dilemma is that I'm not sure how good of a deal it is because of the numbers. She's behind $8K in payments & remaining mortgage balance is $138K, tax value is $184K, & ARV is $170K. Do you all have any tips on what I should do? I don't have any buyers lined up & this would be my first sub2/lease option deal. Also, I'm in NC & I'm talking to my lawyer on Tuesday to take the right steps, legally speaking. If anyone has advice, I would definitely appreciate it!

Thanks!