Purchasing with lease/option?

General Real Estate Investing
1

I met with a seller today and need help.

ARV=$84,000
Repairs=$6000

I offered them $53,000 in cash or told them I could pay $60,000 if they would allow me to buy on a lease option. They jumped on this and are onboard. I have only “sold” using lease/option, but never bought.

They are 1 payment behind, but say they will get caught up at the beginning of the month.

Do I have a deal? How do I protect myself from going in and repairing the house only to have everything fall apart?

Anyone in Montgomery Couny, Texas with EXPERIENCE in creative REI interested in teaming up on this one?

Thanks,
Kevin
(281) 932-5037

2

Hi Stonegate,
I am a loan officer in Houston Texas, I process loan for non SSN buyers. Do give me a call see if I can help your buyer get a loan.
281-468-7439 or email me at Sarahlim2000@hotmail.com
I process any loans… I would know for sure whether or not your buyer is qualify to get a loan within 48 hours (for non SSN), 24hours for regular borrowers.