Congratulations to Kari McCoy on her article (Nov. 16-17, Gold Country Homes, “How does a ‘lease option to buy’ work?), explaining how a lease option works.
I have run a real estate business for over 30 years and not seen it explained better.
Most owners, tenants and real estate agents don’t really understand how a lease option works. There has to be some nonrefundable money (option money) given to the owner of the property to repay them for having their property off the market during the lease option period.
I have never met or talked with Ms. McCoy but, judging from the above article, she knows her real estate.
Jim Pulliam, Lincoln