Thinking about moving toward the sale of your property by using a rent to own tenant lease/purchase agreement?
This option is sometimes used by sellers to rent a property to a tenant who has the option to buy the home within a specified period of time. Typically, part of each rental payment is put aside for the purpose of accumulating funds to pay the down payment and closing costs. This is a legal contract that obligates the tenant to purchase the property for an agreed-on price at the end of the lease period. Bradford Miller Law can draw up all the legal documents you will need for this transaction which will include both an agreement of sale as well as a lease. These documents must have a clear start and stop date. And, you must keep in mind that until the closing, you are typically responsible for insurance, taxes and maintenance.
Give Brad a call so you can discuss this option. Bradford Miller Law can help you with all your real estate needs at a very reasonable rate. We can help you make the right decisions to help protect your assets. Our experienced Real Estate Attorneys have been representing real estate clients for several years now and have earned membership in the Better Business Bureau. At www.bradfordmillerlaw you can find information about our firm and information about buying or selling property. To discuss your pending or potential real estate transaction call us at 312-238-9298 for a Free 15-minute consultation.
Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602
Offering free legal representation to homeowners seeking a short sale
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