Legal Question in Real Estate Law in Colorado

Real Estate

If someone defaults on a lease option to purchase? Is it hard to get them out of the house if they default? Is it better for us to maybe carry paper with a baloon option after a year. Is that any easier to boot them out,if they default? We really want to sell this house and are having to find creative options to sell it? Thanks-


Asked on 11/29/08, 7:57 pm

1 Answer from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: Real Estate

My experience is that once people default, they are difficult to rehabilitate. You can give the the 3-day notice and then evict if they fail to move. As for creative options, find the best realtor in your area and list it. If it were me, I would rent it out for a year and sell when the market turns around. It is expected that there will be a period of inflation after this recession is over.

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Answered on 11/30/08, 7:02 am


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