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9d • General discussion
Bank Busters Q&A (AI) 12/19/25
Key Questions to Ask Yourself & the Seller
About the Structure & Terms:
  1. Lease-Option vs. Lease-Purchase? (Lease-Option: Right to buy; Lease-Purchase: Obligation to buy).
  2. Purchase Price: Fixed now or determined by appraisal later?.
  3. Option Fee: How much, and will it count toward the purchase price?.
  4. Rent Credits: How much of the monthly rent goes toward the down payment?.
  5. Lease Length & Extension:How long, and can the period be extended?. LLC l
  7. Default: What happens if you miss a payment or can't buy? (You could lose everything). 
About Costs & Responsibilities:
  1. Maintenance & Repairs:Who pays for routine upkeep and major fixes? (Often you in these deals).
  2. Property Taxes & Insurance:Who is responsible for these carrying costs?.
  3. Utilities: Which ones are your responsibility?. 
About the Purchase Process:
  1. Credit & Financing: Can you qualify for a mortgage at the end? (Talk to a lender early).
  2. Home Inspection: Do you need one, and is it recommended? (Yes, get one!).
  3. Seller's Mortgage: Is the seller paying their existing mortgage? (If not, they could foreclose). 
Crucial Advice
  • Get Legal Help: Have a real estate attorney review the contract; these agreements are not standard and vary widely.
  • Understand Risks: You can lose your option fee and rent credits if the deal falls through, warns Redfin.
  • Check Local Laws:Regulations for lease options differ by state
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Mark Canfora
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Bank Busters Q&A (AI) 12/19/25
Bank Busters
skool.com/bank-busters
Founder Mark Canfora teaches you how to buy & sell real estate without a bank!
Mark has been successful with creative owner financing over 35 years!
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