On a first trust deed or mortgage, this is usually fifteen days.leaseA written agreement between the property owner and a tenant that stipulates the payment and conditions under which the tenant may possess the real estate for a specified period of time. leasehold estateA way of holding title to a property wherein the mortgagor does not actually own the property but rather has a recorded long-term lease on it.

You cannot occupy two primary residences so therefore your wife's VA loan would obviously be for an investment property, and that is not allowed.FHA loan has the same stipulations as being used for a primary residence.

Stipulate in contract that you will have potential buyers, contractors and repairs performed to further motivate the seller to vacate.

Thanks for your response, for an FHA loan there is a stipulation in there for me being active duty that I don’t have to make it my primary residence.

Both have different stipulations, which I suggest you look into.

I would stipulate that they are FULLY moved out and also cleaned up properly before you hand the cash over.

If it doesn't stipulate the provisions for breaking the lease, you know it needs to be in there for next time.If things have been going smoothly and friendly, consider returning some pro-rated fraction of the deposit.Most importantly, you probably need the advice of a competent RE attorney ...

It seems that a lease purchase with stipulations to make the buyer responsible for repairs would be more advantageous than renting because the property owner wouldn’t be responsible for any repairs, they get a bigger up front payment from the sale of the option (which will help with vacancies) and if the buyer exercises the option at the end that’s a win too.

I will also start an LLC for security reasons but am very new to owning a business especially with these stipulations. 

This could lead to a future event that optionee comes up and buy my property at a stipulated price.Currently, I have heard a few things:- Title company: they say there have been a few transactions after this Option, there should be no issue, but this is not covered by insurance- an unpaid legal advice from a local lawyer: this is a defected title, should cancel the purchase- Realtor: we will try to remove this, but this is not an important issue- Realtor friends: No.