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Old 12-25-2007, 02:40 PM
 
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Do you have to pay rent if you sign a lease purchase or is everything going to the purchase price? Does anyone know?
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Old 12-25-2007, 05:46 PM
 
Location: Hernando County, FL
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Quote:
Originally Posted by bentlebee View Post
Do you have to pay rent if you sign a lease purchase or is everything going to the purchase price? Does anyone know?
Each contract is different.
When I do them I usually don't credit much at all to the purchase price.

Keep in mind, if you get a loan most of the payment goes to interest not principal.
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Old 01-01-2008, 06:35 AM
 
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What do you do with the deposit? I read that it will be a non-refundable deposit, but what if there is damage after the contract is over and the buyers/renters are not buying the property?
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Old 01-01-2008, 07:19 AM
 
Location: Hernando County, FL
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When I write it up it is written as an option payment not a deposit.
They pay a certain amount to have the option to purchase at a set price at any time during the lease agreement.
Depending upon how long they have on the option will determine how much I want as an option payment.

If there is damage then I have to take care of it but usually people that are in there realize that if they are purchasing it they don't want to destroy it.
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Old 01-01-2008, 12:20 PM
 
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thanks Mike
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