Lease Option To Buy
Our Lease Option to Buy Program Benefits both Buyers and Sellers
|Benefits to Buyes||Benefits to Sellers|
With new strict lending restrictions in effect, qualifying for a loan in the current real estate market is a big challenge for many potential home buyers. Under such a difficult circumstance, there has been a growing interest in a win-win method i.e. lease options which make things easier for both buyers as well as sellers. In a lease option, the buyer does not have to pay huge up-front cash and the seller also receives necessary cash flow to pay the mortgage and property taxes.
A lease option is a type of real estate contract that concludes an agreement between the property owner and tenant on a property lease for a specified rental period, with an option for the renter to purchase the property at a given price during or at the end of the lease term. A portion of rental payment is credited toward the purchase price, which will cut down the amount when the renter decides to buy the property. Hence, a lease option is popularly acknowledged as “Lease option to buy”.