I am considering selling one of my houses in Edmonton however the tenant is keen to stay. I have never done a lease to own and would welcome feedback on how to potentially structure.
First off you should see if the tenant is able to afford the house. Have your mortgage broker pull credit and check income and such. If he has good credit you may be able to sell it to him now and make it advantageous for the both of you. If he cannot buy now to do bad or lack of credit then you can help him with a Lease To Own. If he cannot buy it because he lacks income then there is no point in moving forward because you will be setting them up for failure.
Have a look at our website www.homeownersoon.com we use some pretty basic numbers I can send you a copy of the lease we use as well. If the tenant qualifies and everybody is happy and you still want to unload it I have a couple of investors who might be interested which we can speak about.
Give me a shout and we can arrange a time to speak email me at [email protected]
