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Old 11-13-2008, 12:53 PM
Location: NJ/SC
4,286 posts, read 12,361,410 times
Reputation: 2551


I've done two and both were easy to do. The second had a problem with the rent being late a few times but we had them pay a security payment when the lease went into effect just in case of something like this. We also had an attorney write up a formal lease. I think it really depends on everyone involved and what will make everyone happy in the end.
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Old 11-13-2008, 01:50 PM
Location: San Antonio
4,151 posts, read 8,514,773 times
Reputation: 3299
There are too many deals I've seen crash at the table because a lender has suddenly gone under. This leaves both parties in a really bad situation. It's a different environment than it was 2 and 3 years ago, so in order to protect sellers, you have to REALLY be weary of lease backs for buyers.
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