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Updated over 18 years ago on .
Lease to own options in TX. Need Help.
I've read that here in TX one can no longer do lease to own in order to sell a home. Does any one here know how the law changed? I'm looking at a propety for which I should not have a problem getting bank financing. I also have a buyer that would take it in a lease to own contract. This is because they wouldn't qualify on their own for bank financing. Any advise as to how I could structure this deal that would be legal? In essense I would be collecting a payment from my buyer and I would turn around and split it 3 ways 1) bank mortgage payment 2) some extra saved towards down payment for when the option comes due and 3) my pocket. Is this topic covered anywhere on this site?
Thank you.