Traditionally, if you buy a property, you have to put a deposit down - with lease options you can pay a nominal sum (i.e. £1 or $1) to purchase a property. In some circumstances, he may owe more money to his mortgage company than his house is worth and therefore be prepared to pay you a few thousand pounds to buy it!

You’re probably thinking - how is this possible and is it legal? It’s totally legal and most commercial solicitors can put these transactions together. (more…)