Lease Option

[Rick Camacho]

BP community! I am new to this and would like to get advice on a FSBO property I am working on. I have a seller that has owned a property for over 10 years but has very little equity in the property. The owner wants to downsize to a smaller house and will entertain a lease option purchase. His concerns are that he believes that his insurance and mortgage companies will not allow this type of transaction and wants to know how to make this work. I told him I will get back to him so that I can show him the way through this. Thing is, I don't know my way through this and need guidance and advice on how to answer his concerns. Anything anyone can provide on this subject will be appreciated, thanks in advance!