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Updated over 10 years ago,
Lease Option in Las Vegas
Hi BPer's !
I own a property here in Las Vegas and thinking about offering a Lease Option on the property. I have done this in the past, but this was 8 years ago. After reading a few post here on BP, I'm affair I might be out of date with my contracts.
1) First question I have is, if I do a L/O, and my Tenant/Buyer doesn't pay the rent, in Las Vegas, would you evict them or do you have to foreclose on them?
2) With my lease options I offered before, it was basically a normal lease agreement with a separate contract for the lease option. Is there more paperwork I should have?
Thanks.