Discover how the advantage of a “Lease Option” Can suddenly change your fortunes from a Real Estate Nightmare - To a Real Estate Dream !
The “Lease Option” may be the answer !
Utilizing a Lease Option strategy will enabled you to get your property handled quickly by tapping into the unlimited pool of tenant-buyers who are hard working, respectable people, hungry to own their own home but might not be able to qualify for a traditional mortgage.
A tenant-buyer should provide you the necessary cash flow to pay your mortgage, property taxes, and perhaps more. The tenant-buyer has vested interest in treating the property as if it’s their own, because after all they are buying it!
We simply call this a Delayed Closing
What is a Lease Option & How Does it Work?
A Lease Option contract is the combination of a rental agreement and a sales agreement between the seller and the tenant-buyer, which gives the tenant-buyer the exclusive option to purchase the property at an agreed upon price at anytime within the length of the contract.
The seller would be paid monthly rental payments by the tenant-buyer to live in the property until they are ready and able to purchase the property out right, within the agreed upon terms.
What are the Benefits of working with Better Homes and Gardens Bighill Realty?
- Property Handled Quickly: Your property will be handled quickly because we have a large pool of pre-qualified tenant-buyers looking for the opportunity to become homeowners through our Lease Option program. In some cases we can get your property Lease Optioned to a pre-qualifed tenant-buyer within 5 days or less.
- Relief of Mortgage Payment: The monthly rental payment from the tenant-buyer should cover most, if not all of your mortgage payment and taxes, with potential cash flow.
- Option Payment: An up-front payment called a non-refundable option deposit will be negotiated and collected from the tenant-buyer prior to them moving into the property. This non-refundable option deposit is credited back to the tenant-buyer when they exercise their option to buy. If the tenant-buyer does not exercise their option to buy, you keep the entire non-refundable option deposit.
- No Landlord Headaches: With Lease Option contracts the tenant-buyer is usually responsible for the day-to-day maintenance of the property. So no midnight calls to fix that leaky toilet!
- Peace of Mind: Fortunately , your tenant-buyer does not have a renter’s mentality. They have an owner’s mentality and will take care of the property as if it were their own. Your tenant-buyer may even make improvement to the home- with your permission of course.
- Tax Benefits: Until the tenant-buyer exercises their option to buy the property, you still get all the tax benefits of owning the property.
- Credit Repair: If the tenant-buyer has credit issues, we will help guide them on how to repair their credit so that they can obtain a mortgage within 12 to 24 months in order to exercise the option to buy.
- Hands on Help: We are very experienced and knowledgeable in Lease Option transaction and will assist in structuring and implementing the deal.
What Steps Should I Take to Sell My Home Using a Lease Option ?
Call us today at 740-274-0757 to schedule an appointment with one of our Lease Option Specialists to meet with you to evaluate your particular situation.
