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Fannie Mae Foreclosures
Lease - Option Tips & Strategies
by William Bronchick
Lease/Options can be fun and profitable, but there are certain pitfalls. The following are some practical, legal and tax tips I have learned from doing many lease/options deals over the years.
Protecting Your Option
Lease/options are great, except when the seller decides not to live up to his end of the bargain. Sure, you can always sue the seller to force him to sell you the property, but this can cost you thousands of dollars in legal fees and take years to accomplish. You need to be in a better position if you want your investment to be protected.
Here are three good ways to protect your option:
Record the Option. If your option was signed before a notary, you can record your option...
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