How to structure purchase from a leasee with an option to buy

[Ryan York]

We have a lead who has a lease with an option to buy. Her option period is up this month and she can’t get the money to buy. We plan to flip with a little rehab. The numbers are good but my question lies with the legalities. How can we pay her in a way that she can pay off her lease option and we aren’t at risk of her walking off with our money somehow. We also don’t want her tied to the property in any way. There has to be some sort of addendum that says ownership transfers to us. We will obviously consult an attorney as well. Anyone done this? Is this possible?

[Ryan York]

David Rawls