This property has a conventional loan that is non assumable with that real nasty due on sale clause you mentioned in one of your articles.

I am the confused. The confusion lies in the fact that I do not know wether 2 use: a) Residential lease contract and a option contract, or b) The buy sell agreement......help

The facts: I called a seller and Told him I would give him his asking price $95,000 and agree to purchase his equity for full price. His equity is about $10,000. He initially said no because he wants all his equity up front. I closed him on the fact that His monthly payment would be callled option consideration money that is tax deffered (collected buy not claimed until the option is exercised. He said ok!

I email the guy with this: 1 year lease with the option of 9 1 year renewals. The lease rent would be his PITI with 100% of the rent credited to purchase. I would pay him $100.00/month for 100 months option consideration money. I would give him a note for the $10k with the following options on the note: right of first refusal, prepayment discout, and advance payment discount.

Now how in the world will his name be removed from the title (which i told him I would do . . opps)

Would that Power of attorney you have in your free forms cover the title removal (probably not)

Now, my king, on what forms do you write this deal up it up on and is my transaction engineering thinkin on the right track?

Help!

The Lowest Serf in the Kingdom

Louis Fomby (I continue to wear my sunglasses) what?