We have lived in our home for over a year. We just recently saw a listed home that would be perfect as our second home. Rather than sell our home to purchase the new one, is it feasible to put together a lease option very quickly? The home is in our own name…not sure if that’s a no-no with lease-options.
I’m just weighing all options to move quickly with the new home, should we decide to purchase it.
Thanks,
Yes, you can lease-option your home even if it’s in your own name. There are many landlords who hold property in their own names. If you decide you would be more comfortable putting it in an LLC you can do a “quit claim deed” and switch it over.