I am trying to put together a lease option. The seller is worried about the due on sale clause in his loan agreement. Is this a problem? How should I handle this to put him at ease and solidify the deal? Thanks for your help!
The seller knew about the due on sale clause? did you tell him about it yourself? 
There should be no issues since he is leasing you the property with the right to buy it. he can call the lender and check with them if he likes.
No I didn’t tell him about the due on sale clause…I believe he said his tax man did. Anyway…he is afraid of it and I was just wondering how someone out there who has had experience with lease options would handle this objection. Thanks, Dan
Fadi… Lease options can have the DOS accelerated…
Highly unlikely… The odds would be better that you would win the state lottery…
Michael…so you’re saying essentially not to worry about it…
I have only been able to come up with 17 objection handlers for someone questioning subject 2…
Fairly easy to overcome their issues…
DandJ,
Glad to meet you.
Yes, just tell your seller not to worry about it per Michael Q, My only question after your reply “so you’re saying essentially not to worry about it”…is who was really worried about the DOS?
Plus I handle all questions before they become objections in my presentation to the seller. If he seller on the phone when he calls me says "this isn’t one of those damn the loan stays in my name is it?, you can count on me making it a deal.
Learn to give the answers, before they become objections…
John $Cash$ Locke
Thanks John…no he called me today and said his tax person mentioned it to him. So he is worried that if anything is recorded, the lender will find out.
Thanks, Dan
John [b]$CASH$ Locke… He ought to worry about the taxes he is going to pay from the lottery and figure out where to spend the rest of the money…
BTW just curious, when was the last time you had a lender accelerate a loan on you? I am thinking you might be close to winning the big one…
DandJ,
It would appear that the seller’s tax man is not familiar with the form and structure of the lease option, tut is waving red flags anyway.
Michael Q.,
I have never asked, but the next time one of the representatives from Countrywide call me to help them out with a property by taking it Subject 2, I will ask them…“You are not going to call the loan on me are you?”
John $Cash$ Locke
Thanks everybody…I’m new to all this so I appreciate your imput.
Dan