Lease option in Illinois gone bad!

I had this person contact me, this is what she wanted:

  1. 6 month lease-option
  2. no payment of association fees [condo]
  3. small deposit [1 month rent]

This is what I told her:

  1. all expenses [including taxes from date of moving in]
  2. future appreciation is mine
  3. 2 times the security deposit [earnest money]

She said is was getting to complicated and did not want to deal with me anymore.

What can I change or Was I doing ok by protecting myself?

p.s. she tried to nibble me out of paying more out-of-pocket while she enjoyed renting and then buying plus gaining future appreciation.

Forget about it and move on to your next deal. She wasn’t motivated.

You did good! Stick to your guns :guns:

Yeah, just move on. :slight_smile:

I offered a lady who was wanting to sell her house to move out of state a L/O (she had also placed a for rent ad in the paper). She said today "we would need at least $30-40k down to move if we did this. Yet, when they leave they are planning to rent it and move with nada. Oh well. Bigger and better deals out there. :slight_smile:

Good job for not jumping on the “deal” (or lack thereof) :slight_smile:

Thanks for replies, Makes me feel alot better.

I am glad I did not take “any” offer.

I know I will get the good offer soon!