Fill out this form to get access to our entre FREE E-Book. We will contact you shortly after you fill this out!
As a seller Lease Options can open the door to a higher rental rate, option consideration monies up-front, and a sales price with fixed appreciation. In addition, you are able to create all the terms that work for you and your current situation.
In some cases this is better than any other option available. Even in the event the tenant/buyer does not end up purchasing the home at the end of the term, you will be able to keep the 3-5% option consideration as well as the above market rents and do it all over again with a new tenant/buyer.
The 3 N's of Lease Options: I have always looked to lease option as an exit strategy in Nice neighborhoods, with Nice houses and Nice people. Of course this is not always the case, but it's a great rule to live by.
Given today's Real Estate market there are a plethora of Buyers out there that would love to purchase now, but are just not able to qualify for a bank loan. This has happened because so many of them have had a recent foreclosure or short sale. This being said many of the loan programs out there have become more and more stringent which are keeping people from being approved for a mortgage.
From the buyer's perspective it is still an awesome opportunity. The buyer is able to get into a house that they are in the process of buying. This being said they are able to make it home. They have an allotted amount of time to repair their credit and purchase the home based on a price that was set years ahead of time, which commonly leads to a bargain deal.