Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 8 years ago,
Lease Option Question
I have a Tenant who has a Lease Option to buy and a Rental agreement on one of my homes.This lease option contract comes due in the next few months and I am certain this Individual will not be able come up with the Financing or money to purchase the house.This home is in Florida. This home has increased in value roughly 60 K above the lease option price that me and the buyer agreed on stated in the contract. This person has a non refundable binder which I assume he would lose if he could not complete his end of the agreement.I understand that the contract would dictate what happens but are there any other options or angles on this ? Could I sell the paper on this deal or are there other non traditional ways for him to come up with the money ? My intention is not to push him out but I need the money on this deal and want to get out from underneath this house Any thoughts ?