Legal Question in Real Estate Law in Florida

Re: Lease Option

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

The terms of the agreements will be controlling. You will need to meet with an attorney who can review both the Contract for Sale and Purchase and the Lease with an Option to Buy Agreement in order to give you specific advice.

Please note that if you have good credit, there are still many lenders in the marketplace who will loan money for your primary residence. They may not give 100% financing or have some of the foolish programs that were prevalent in the past, but conventional financing is still readily available. You may have to look at other companies but both the industry giants and local banks are actively making loans.

Scott R. Jay, Esq.