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Lease 2 Purchase Knowledge Base
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Lease Option Sandwich Transfer
By Mark from Lease2Purchase.com Chat Board
Q: (by Mark)
If I do a sandwich lease option, what is the best way to transfer the property to my buyer without actually having to exercise my option? I was wondering if while in escrow with my buyer I could have the seller transfer the deed over to me without having to purchase, basically like a subject to transaction. Thank you.
A1: (by JR_FL)
You assign your agreement back to the seller that you have with your buyer. Now of course you have to get paid.
A2: (by JR_FL)
Do an assignment, that is held in Escrow at the title company. Coordinate so that everything happens there. You could ask the seller to sign a Note and Mortgage that is recorded against the property...
A3: (by Steve55121)
I would recomend using a performance mortgage. This will allow you to get paid at closing without ever owning the property. You can have the seller close with your T/B and you can stay at home in your pajamas and still make money.
A4: (by -Steve-)
When the T/B is ready to buy, all three parties go to an attorney and do a three way close. The investor buys from the seller and the tenant/buyer buys from the investor and is the one with the cash. A three way close. Explain it to your attorney and let he/she worry about the paperwork. Just get your back end profit.
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By BH from Berkeley, CA on 04/07/07
This site is very helpful - more info than I've found in books. Make sure the info you post is accurate; check it out with a lawyer, first! Thanks.
By George from Brooklyn, New York on 10/30/08
Q2. If the Seller is the First figure of the deal, the Investor is I am, and the tenant/buyer is the last fugure cash receivers are Seller and Investor by the split-checks
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