What Is A Lease Option?
As home sales remain slow and we remain in a buyers market, a lease option or a lease purchase might be something that could work for you, especially if your home is vacant or sitting on the market for a long time. What is a lease option?
A lease option allows someone to lease your home with the option to purchase it. It is a combination of contracts that gives a tenant/buyer the choice to purchase your property at an agreed upon price within a specified time frame, usually 12 months.
Basically, a lease option is similar a lease, with the option at a determined time period for the buyer to purchase the property.
Columbus Lease to Buy can do this for you at NO cost!
Advantages Of A Lease Option For Home Sellers
1. It allows you to beat the competition.
2. You can collect rent while the home would otherwise sit vacant and cover your mortgage payment.
3. You often receive a higher purchase price.
4. You can sell the home in a down market when otherwise it might not have been able to sell at all.
5. Your buyer will assume all the maintenance responsibilities of the house.
6. No fees or commissions.
7. And it allows you to actually sell the home, instead of just renting it.
In addition, a lease option opens you up to more buyers. A lease option allows you to sell your home where you otherwise wouldn't have been able to sell it.
For example, there are many people right now that don't qualify for financing with the increased regulations in the lending industry.
Many of these potential buyers have been taken out of the market, and a lot of times all they need is more time to qualify. They may need to pay off some debt, raise their credit scores, or save up a larger down payment. Many of these buyers are very close to purchasing, but can't quite get over the hump.
Many sellers and investors don't work with buyers to help them get qualified for a loan, but Columbus Lease to Buy does. Along with our credit specialists, brokers, and other affiliates we work with the tenant/buyer during the lease to ensure that they can indeed get financed and buy your house.
Another advantage is that if you have to move fast or your home is sitting vacant, you get someone to pay your mortgage payment for you. They may also do some upgrades that could add value to the home, and you get people to in your home to maintain it.
Why Should Home Sellers Do A Lease Option?
If you're tired of showing your home, a lease option could help you get out of the market, out of your home, and get someone who will pay your mortgage for you. Columbus Lease to Buy can show you how to do this and do all the work for you!
If you're not getting any showings and you can't reduce your price, a lease option is a great way to wait out the market. Even if the buyer doesn't buy your home at the end of the option period, you still have someone paying you rent, and taking care of your property. Plus, you could always try to sell later when the market improves and get a better price.
All in all, if you are a home seller, I truly understand how difficult it is right now. A lease option may be something you could try if your home isn't selling and you're struggling to make ends meet. If you do a lease option, be sure to consult a true specialist, like Columbus Lease to Buy.
Read more: Sell Your House Fast With a Lease Purchase! http://www.sooperarticles.com/real-estate-articles/selling-property-articles/sell-your-house-fast-lease-purchase-455515.html#ixzz1cXR2vqWd