In amarillo, would you like to purchase a Wrap Around agreement?

[Allan Riley]

Why sell your home and let the banks collect the interest? Instead you should make all the money off of your property. Don't pay retail, I'll sell it to you at half the cost. I purchase my first home for $40,000, did about 10k in repairs and just sold it for $111,000. If in amarillo texas and you are interested contact me.

[Jeff Smith]

@Allan Riley, I have had attorney's write contracts for me several times, and the cost has never come close to $1000. If I can be frank, I think this guy saw you coming a mile away. 

Now, as far as a lease option, in Texas, your buyer has only 6 month to exercise his option to buy, after 6 months the rules change (do some real research and find out the laws on lease options) the buyer could demand all his down payment money and all the payments back from you. 

What you need to do is create a owner finance promissory note between you and the buyer(actual term is borrower) close at a title company that will provide you with a lenders title insurance policy, transfer the deed into the borrowers name, find a loan servicing company and board the loan with them. They will do all the rest. If you have a existing loan on the property it will be wrapped into the loan you create like @Jay Hinrichs @Wayne Brooks and @Scott R. have talked about. If you have picked up this property from a seller who has a loan and you took it subject to the existing mortgage then you will need to send the bank a form that allows you to speak to them on the sellers behave, get a POA for the insurance, or cancel that policy and get a new one. Either way, the 1st lien holder (bank) will be on the policy along with the seller, you and now your borrower. (Not so easily done)

There's a lot work/risk in doing real estate like this so make sure you know what your doing. 

If your trying to sell this paper you created, I doubt you will find a buyer (at least not a smart one) but if you redo it the right way, you should have no problem selling it off to a note investor. (After its been seasoned anyway)