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Mary Ann Totten

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lease option with assignment of contract

The process of finding a buyer for a lease/option is tough enough but when you add an assignment of contract, the sequence of events becomes tenuous.
The buyer wants to see the property before it's tied up and speaking of that..How do you make money on this deal? The seller's price is $950,000.
but the identical house across the street that is bank owned
is priced at $750,000. So I offered $750,000...payments are about $3500/mo
Do I then assign the lease /option to the buyer for $800,000. and walk awy with $50G? How does it all come together? What if seller wants a bank committment letter? Do I give him theirs or tell him I am assigning the contract to someone else.. Give me an do it the right way.