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Option to Purchase Package Iowa  Form

Option to Purchase Package Iowa Form

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Instructions and help about Option To Purchase Package Iowa

hi everyone this is roman smith from the mortgage center i've been taking several calls on options to purchase vendor take backs it's something that keeps coming up time and again so i wanted to address what an option to purchase is today an option to purchase is a registered right for someone to buy a property that's registered on title so for example let's just say for simplicity's sake that i own my own home clear title i've got no mortgage and my neighbor wants to try to buy my unit doesn't have the money right now is perhaps in between jobs or there's some other complicated factor that he doesn't want to transfer right now and his name um he may not have the money for closing costs or the bank won't finance into bankruptcy issues right now and he needs a couple years to reestablish his credit i can grant him an option to purchase the property so what that would mean is i would take say 25 000 in exchan

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