I am finally ready to present an offer to a seller of a property for my family to buy. I have met with the seller and although she was not wanting to “lease with option to buy”, I put my cards on the table and told her our circumstances. Three months ago we filed bankruptcy due to the loss of our retail business (thanks to hurricane Katrina). Our insurance was next to useless. We are currently in a rental home and the owners have given notice to vacate (they are wanting to sell the house). Our credit before the hurricane was good-but due to the bankruptcy, we will need at least a couple of years to re-establish our credit to the point of getting financing.
In the process of beginning to pack, I can not find my Carlton Sheets booklet of forms to present a proposal contract for the lease with option, to the seller. I know that there are sections in this form that tilt the security factor in favor of the buyer rather than leaving the buyer fairly un-secured (as in standard forms presented by realtors).
Would anyone know where I might get a copy of this form? Time is truely of the essence! If anyone can help-you will be a life-saver. Thanks in advance!
I also misplaced my Sheets form but that was after I adapted some of them to my current dealings.
I have a copy of a lease with option to buy that used some of the suggestions of the Sheets lease.
The main points that should be in the lease:
Title insurance to be provided (paid for) by the seller. That’s saved me a few hundred bucks.
Assignability: Most leases have non assignability clauses. The Sheets plan tells you to add or amend it.
Lease option: Terms of the option, option price, etc.
Email me for details. Maybe I can help.