Originally posted by Bill Gulley:
Welcome to BP, Anna!
Since these two clients are both buyers and wanting different things, I'm not seeing a deal together. Both want to buy, why a lease option?
Are you an agent with "clients", what is the client relationship? :)
Well heres a few other details. Client #1 came to me and asked to get pre-approved so I submitted all docs. Lender asked for 401k to show cost of down payment and closing. Client already took two small loans on 401k but has 100k in account. He cant pull more until Feb. and they cant come up with 5k down payment. So I ran the idea to a previous landlord Client #2 and they were open to the idea of getting the loan themselves and then when Feb.comes around Client #1 would purchase home from Client #2 higher than the original purchase price.
But how could I structure this exactly and what forms. This will be my first deal too.
