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Updated almost 10 years ago,
How would you structure this lease back / lease purchase option to best protect myself ?
Home Value as is $125 K
Purchase Price - $70 k
The owner I would be purchasing it from is losing it to the bank and wants to continue to rent with the option of purchasing the house back in 5 years or less for 90 K.
I have never done a lease back ; what should I put in my lease with the renter to protect myself down the line if she was to struggle with payments ; damage the home ; etc ?
Thank you in advance