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What Are The Main Risks of a Lease Purchase Contract For The Seller?

Sellers not having the proper paper work to protect themselves from:

1- The Tenant Buyer claiming equitable title. The Tenant Buyer claims that they bought the property and therefore the Seller has to foreclose on the property to get possession of their property back if Buyer defaults rather than suing under the state laws regarding renters for unlawful detainer which would allow the seller to get possession of their property back quicker in the case of a tenant buyer default.

How to Avoid Tenant Buyer's Equitable Interest Claim

2- The Buyer suing to get their "non-refundable" option consideration back if they can not qualify for a loan and therefore not able to exercise their option to purchase.

A Property Drawn Lease Option Will Take Care of This Problem

 

 

Lease Purchase Solutions, Ltd.
Gar C. May
Real Estate Broker
CA DRE # 479003
gmay@san.rr.com
858-272-5510

 

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  San Diego, CA 92109 858-272-5510 858-272-6135