Can this work? ???????????

Brand new home. For sale asking $309,000
I offered a non exclusive lease option. No price for purchase set yet, he is open to the price. Seller will do it but wants to be part of the mix. Meaning he wants to help screen,qualify possible t/b. And he wants to be part of the open house/marketing, so if we get a buyer we can do it on the spot per say.
Have any of you had this situation before? Where the seller wants to be involved this much?
Can it work? What do i need to know to cover my @$$?
This would be my first attempt at this lease option.

He owns the home free and clear, its been empty since built in 06"
Has had it llisted for the last year with nothing for offers, and no feedback from the realtor.
He live aprox 150 miles away.

How should i structure it si i can get paid?
Always reading
Thanks

Are you planning to assign your tenant/buyers lease option agreement back to the seller?

If not, then as far as the seller is concerned, you are the renter and the future buyer. You are guaranteeing the monthly rent, and you will be paying the negotiated purchase price when you exercise your option. Why is it the seller’s concern who you sell to (if you decide to sell) once you have the deed in your possession?

What am I missing here?

Dave T,
My first thought was for me to be the one to l/o it but not occupy it. I would then sub lease it to my t/b. My first thoughts.

Now that the seller wants to play a part like he does. Then i think im better off assigning my t/b lease option back to the seller. I would then make my $ and let them work together.

So my plan now is to do just that, get a t/b and assign back to buyer. Does it make sence? Can it work? and what do i need to ask or get in writing to make sure its al a win win win deal?

I can see the seller screwing up your payday. He’s in too strong a position and wants too much involvement. Find another deal.

Dave’s advice is straightforward and really honest… I would have to say the same.

I feel the same way as the seller has to much control.
He is open to anything i throw at him at this point. Im looking for a way to cover myself. In the sence of my payday. Is there a way i can approach this to get my share?
As mentioned the seller is out of town and is open to all ideas so far.

I can walk away, of course. And i will if no security for my time and effort. But Seller is so far receptive to my thoughts.

Should i get a price or contract in writing to get mine?

I think so… but I’m not very experienced about this… let’s wait for what the others think. :slight_smile: