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Updated about 1 year ago on . Most recent reply
Need lawyer (NYS, outside of NYC)
Hi,
We have a SubTo/Seller Financed hybrid deal that also has a Lease Option as the seller is an owner-occupier within this 3-unit. The other two units have been short-term rentals.
The Lease Option is for us to be able to “occupy” the two rental units and allows the seller to stay in their unit for 5 years at which time the balloon payment is due.
Happy to give more details to the potential lawyer out there.