All Topics / Help Needed! / Lease Option & Wrap Documents Available?

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  • Profile photo of jonoharris66jonoharris66
    Participant
    @jonoharris66
    Join Date: 2003
    Post Count: 13
    May 28, 2006 - 12:50 pm

    HI there guys.

    Can any one tell me where I can get hold of Lease Options agreements and/or Wrap contractual agreements? I am about to see a person who is renting one of my properties but wants to set up a lease or a Wrap deposit, and we are going to negotiate. But do I go to a solicitor for these documents…I don’t want to pay them immense fees to draw new ones up…does anyone have any available or know where to find them?

    Many thanks
    jonoharris66

    Profile photo of Paul DobsonPaul Dobson
    Participant
    @pauldobson
    Join Date: 2003
    Post Count: 1,196
    May 28, 2006 - 8:11 pm

    Hi Jono

    If you’re in NSW, talk to the godfather :-) of wrap and lease/option paperwork, Tony Cordato at
    http://www.businesslawyer.com.au

    If you’re in another state, just let the forum know and I’m sure you’ll be given the name of a vendor finance specialist lawyer in your state.

    Good luck.

    Cheers, Paul

    Paul & Karen Dobson
    negative2positive
    Turn your negatively geared property into positive cashflow.
    Phone: (02) 4984 9540

    Talk to us about Wrap Training Joint Ventures.

    Paul Dobson | Vendor Finance Institute
    http://www.vendorfinanceinstitute.com.au
    Email Me | Phone Me

    An alternative way to finance your home.

    Profile photo of jonoharris66jonoharris66
    Participant
    @jonoharris66
    Join Date: 2003
    Post Count: 13
    May 28, 2006 - 8:23 pm

    Yes i am in NSW; that’s awesome mate thanks for getting back to me. I will get in touch with him.

    BY the way; what is the service you provide when you say that you turn neg to pos in properties? that is what i am trying to do with my current tenant. I was going to stick to Steve McKnight’s principal of the 0- 130 IP, offer them a wrap or a lease option….other ideas?

    they are in my place on which i have $212,000 debt and is worth $250,000, but they are only paying $270 wk currently. They are interested in ownership.

    cheers
    Jono

    Profile photo of jonoharris66jonoharris66
    Participant
    @jonoharris66
    Join Date: 2003
    Post Count: 13
    May 28, 2006 - 9:07 pm

    One more question that I have is: when fixing a future price- should you offer a valuation to be taken at the time they want to exercise the option, and alternatively, if they want to do a purchase under vendor terms, what happens if my future price is above valuation? Say the bank they choose to go through won’t lend them enough as they are trying to get more than it is ‘worth’?

    so many questions, so little time!
    Jono

Viewing 4 posts - 1 through 4 (of 4 total)

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