Do I need a lawyer to write up my Lease Purchase Contract? -

I own a home that I am going to lease to someone for a year and then that person will buy. Do I have to have a lawyer write up the contract or can I do that myself? If I can do it myself, where do I begin? Is there a certain format that I need to use or does that not matter? Thanks.

If you are doing a lease with an option to purchase, have it done by an attorney. These are tricky with as many disadvantages as advantages. Not only will you need a lease with option to purchase, you will need a purchase agreement. Talk to an attorney.

I would really hire a real estate attorney to do the final contract. You could write out your own, then have the attorney look it over for things that are missing or shouldn t be in there. When it comes to selling, even though it s not right now, it s best to be on the safe side. I guess you could say you re writing out two contracts. The first is the lease, the second is the sale. Since the sale is related to the lease, though, the attorney can help you word it correctly. As a landlord during the lease time there are certain things you have to live up to. Then as a seller, there will be other requirements. You may also want an attorney to act as an escrow agent. With money involved, it s always best to make sure it s being done legally and to everyone s benefit. It ll save you a lot of trouble later when the sale happens. Oh, and thank you for being a Lease-Purchase owner! I m looking for an owner to do the same for my family and it s nice to know that there are actually owners who are willing to put off getting the purchase price for a while.

No, If you have Microsoft word there are Lease templates available online.