I am not an attorney or investment adviser. I am not a used car salesman.
The first sentence means I do not offer legal or tax advice here. Call a qualified lawyer or CPA.
The second sentence refers to a recent post where I made the comment "Don't ask a car salesman if you need a new car."
When it comes to real estate there are usually two main routes...one is labeled buy and the other rent. In between is a pathway called the lease purchase option or option to purchase.
I am not a big fan of the lease-purchase option. Most often I get calls about these from buyers who can not obtain financing right now.
I will admit a lease-purchase option can be good if the option locks in a price for a future purchase and home prices escalate during the option term.
Any seller considering taking their home off the market with a purchase option agreement should require money up front to make sure everyone is serious.
Likewise, any buyer who is serious about a purchase option should expect to put money down. After all, a lease purchase without down payment or option money is called... RENTING.
As for my opinion....a person should either buy if they can or lease.
As a Florida licensed real estate broker associate I do not prepare contracts or offer advice on contracts.
I recommend a real estate attorney get involved.
Need a real estate agent in Brevard County, Florida? Email me.