We are trying to sell a house that we originally bought for rent hoping that we can sell it in 6-8 mos with more equity. Things changed financially, so we must sell this property. Two days ago,a guy called us out of the blue and was so eager to see the house, and so we did the following night. He doesn’t even look at the house and started offering us a lease option! So, here’s the proposed deal. He’ll give us $60K to cover our second mortgage (our down payment), then $1500rent + 300 addtl. for purchase credit. Wants to lease it for 7 mos. Price of the house is $315K. His reason for not buying the house outright was that he has to sell another house from out of state. I’m just thinking if he can get a loan or can come up with 60K, why on earth won’t he just buy the house? What is this person trying to pull? Or am I just being paranoid… Any replies or thoughts will be highly appreciated. Thanks
Be careful. The first thing that comes to mind is that he intends to give you the $60K in some form other than cash such as a note.