Yet Another Lease Option Question

General Real Estate Investing
1

I am sure this has been answered many a time, but please i need help!

here is the deal…I found someone wanting to sell their home for 50k. the home is worth 100k. they are willing to sell to me on a land contract, or lease option (is there a differance???) now, I have someone that is interested in buying it for 100K…can i lease option that house from the current owner for the 50k and then sell it the same day (or asap) to the guy i know for the 100k and get a check at closing for 50k minus the closing costs im sure i would pay to the new owner? please let me know guys as I want to get this one ASAP!

Thanks, first timer here

2

You probably don’t even need to bother with a lease option. This is a simple assignment. Put the house under contract with a simple purchase agreement, under name put your name and “and or assigns”. Then put the new buyer under contract. Find a title company that will do double closing, using your buyers money to pay the original seller… You receive a check at closing for the difference…

Get it done fast… nothing is stopping new buyer from finding the seller and leaving you out…

Hope this helps…

Jason