A Lease Option is a real estate transaction that gives an investor the right to lease a home and also the right (option) to purchase the home during or before the end of the lease period. In the case of real estate investing, it gives the investor the right to purchase property during the contract period but not have to put 10 to 20 percent down to gain control of the property.
TJ Investments - Burien, WA
Carlisle Mitchell - Insider Tips for Real Estate Investors - Houston Heights, TX
Theodora,
I am working on a book which outlines the details of lease options... In the meantime you can join the Real Estate Investors Network (REIN) WorldRein.com to learn investment strategies, network with other investors and follow News & Events.
Oct 07, 2009 08:44 AM
The Pamela Madore Group - Amarillo, TX
Team Work Makes The Dream Work
Doing it in Texas is a little harder, isn't it Carlisle? We have that executory definition for our contracts so 90 days is tops. Is that right?
Aug 16, 2014 04:51 AM
Carlisle Mitchell - Insider Tips for Real Estate Investors - Houston Heights, TX
No, 90 days is not the limit. The new laws were not designed to prevent lease options, they were designed to help protect the consumer and provide guidelines for transactions which vary based upon the length of the term of the agreement.
Aug 16, 2014 05:09 AM
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service
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