 ADDENDUM TO LEASE TO OWN (by ANN [NC]) May 21, 2012 1:12 PM
 ADDENDUM TO LEASE TO OWN (by V [OH]) May 21, 2012 1:22 PM
ADDENDUM TO LEASE TO OWN (by OKHMBLDR [OK]) May 21, 2012 1:47 PM
ADDENDUM TO LEASE TO OWN (by Ann [NC]) May 21, 2012 2:34 PM
ADDENDUM TO LEASE TO OWN (by ANN [NC]) Posted on: May 21, 2012 1:12 PM
Message:
State Specific Question About: NORTH CAROLINA (NC)
Tenant is a contractor and wants to do major repairs while Leasing to Own home at a reduced rent. What other documents should I include in the Lease to Own documentation? --72.169.xxx.xxx |
ADDENDUM TO LEASE TO OWN (by V [OH]) Posted on: May 21, 2012 1:22 PM
Message:
Because you hopefully used an attorney to study and change the option fee part of the paperwork you shared with the tenant, I would consult her/him because unauthorized repairs without inspections can produce a nightmare for you to fix when they flee, this is why the option fee is around 10-12,000 to cover this, the 16 months waiting to get a court date and the legal costs of getting your place back so you can restore it to rentable condition. Brad 20k does allow repairmen to do work on houses but it must be finished before they move in as a renter - avoids the demolished dreamer calamity place. --68.76.xxx.xxx |
ADDENDUM TO LEASE TO OWN (by OKHMBLDR [OK]) Posted on: May 21, 2012 1:47 PM
Message:
A few years ago a LL I know did this type of deal with a guy who was in construction. He was given permission to make "repairs" to the house. Nothing in writing for the repairs that were to be accomplished. Two months later he drove by the house and all he found was an empty lot. The guy had torn down the house, and had planned to rebuild a new house on the lot, only to find out he had no way to get any financing to rebuild. Now this LL just has an empty lot to mow, and he is still making payments on his original mortgage. Be very careful with these deals.
--98.162.xxx.x |
ADDENDUM TO LEASE TO OWN (by Ann [NC]) Posted on: May 21, 2012 2:34 PM
Message:
Thank you for this advice!! --72.169.xxx.xxx |
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