Just wondering if anyone could please explain to me what the difference is between a wrap and a lease option.
Also – I’m in SA and I understand that wrapping is illegal here. Does anyone know whether lease options are also illegal?
thanks,
CarlinCarlin
Click on the tab marked “Investor HQ” next to the “Forums” tab at the top of the page. It’s all explained there.
I don’t know of the legalities in SA.Cheers
PyramidHi Carlin
As Pyramid says, try the “Investor HQ” tab at the top of the page for the difference between wraps (instalment contracts) and lease/options.
It is illegal to sell residential real estate in SA using a wrap, i.e. an instalment contract. However you are allowed to use lease/options in SA and, as far as I know, quite a few people are. Good luck.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Carlin
As the previous posts have mentioned have a look at previous threads on the difference between the 2 but if you still have questions feel free to ask.
Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
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