Lease option transaction coordinator, a page few TC sites have.
In a lease option the tenant-buyer rents the property now and holds the right to buy it at an agreed price within a set term. There are two agreements, the lease and the option, and a deadline that matters more than any other date on the file. Texas treats some lease-option structures as executory contracts, with their own rules under Property Code 5.061 and following; whether that applies to your file is your attorney’s call.
The lease option checklist. Tap each item as you read it.
Every lease option file gets this list, in this order. When the bar is full, you have seen everything Kristen tracks from contract to first payment.
Kristen coordinates. The licensed people do the licensed work.
On a lease option file the lines are the same as on every file. Clear roles are what keep a creative deal clean.
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01
Your attorney drafts
The note, deed of trust, addenda and any state-required notices come from your attorney. Kristen never drafts a legal document and never gives legal or tax advice.
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02
Your title company closes
Title search, commitment, closing, funding and recording happen at your title company or closing attorney. Kristen keeps them supplied and on schedule.
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03
Your servicer collects
Payments after closing run through a loan servicer. Kristen sends the setup packet and confirms the account is live. The servicer collects.
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04
A lender lends
Dean Creative Closings is not a lender or mortgage loan originator. Who may originate a seller-carried note is a question for your attorney or RMLO.
Dean Creative Closings is not a law firm, lender, mortgage loan originator or title company and does not give legal or tax advice.
What usually goes in a lease option file.
Your attorney and title company set the final list. These are the items Kristen asks for first, and who usually provides them.
- Lease agreement From Your attorney
- Option agreement From Your attorney
- Option fee and rent terms From You and your attorney
- Current mortgage statement From Seller
- Insurance declarations page From Seller
- Entity documents From Buyer
- Photo ID for every signer From Buyer and seller
- Servicer setup packet From Your attorney and servicer
One flat price. Add only what the file needs.
$695 for a lease option file. $250 opens it and the balance is due at closing. The three add-ons are priced the same on every deal type, and the full list with a total builder is on the Pricing page. New to it? Read lease option vs rent to own first.
Setup packet to your servicer, account confirmed before closing. $250
New policy placed with the right parties named, old policy handled. $150
Closing in under 10 days. $250
The ones lease option clients ask first.
Plain answers. The full list is on the FAQ page.
Why is the lease option fee lower?
There is no closing on the day the lease and option are signed, so the file is shorter: the agreements, the option deadline, the owner’s loan and insurance records, and a servicer if you use one.
What happens when the option is exercised?
The purchase closes at your title company or closing attorney. Kristen opens the closing checklist at that point and tracks it the same way as any other file.
Is a lease option the same as a wrap?
No, and the difference matters. A wrap is a sale with a new note; a lease option is a lease plus a right to buy. Some states treat some lease-option structures as executory contracts with their own rules. Your attorney confirms what applies.
Do you give legal or tax advice?
No. Dean Creative Closings is not a law firm, lender, mortgage loan originator or title company. Kristen keeps the file organized and moving between the people who do those jobs.
Not a lease option? The other five.
Same checklist discipline, priced flat per file. Or tap through the picker.
Open the file today. Kristen takes it from here.
Lease Option file $695. $250 opens it, $445 at closing.
Call or text 940-206-4427 or email kdean2014@yahoo.com