Lease/Purchase Rights/Sweat Equity Used ?

04-21-2005, 02:11 PM

Honestplease Honestplease is offline

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Join Date: Apr 2005

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Lease/Purchase Rights/Sweat Equity Used ?

What is the name of your state? Illinois

I am getting ready to lease a home for one or two years to purchase it. I am putting sweat equity into the home has my downpayment/deposit. I do not want them to be able to sell the home from under us after we have completed the work or in the middle of our lease. We have had that happen once. Is there a way to have our name recorded with the home at the villages office or something other then the contract so that they can not sell it or something after we have put the sweat equity in the home. ($5000 worth).

How do you calculate the value of sweat equity? Do we count labor costs and things like that?

Please help as soon as possible.

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