Lease Purchase Tips

As a Buyer, if you are not approved for a mortgage either due to credit or low savings, you can still purchase a home with a lease-purchase agreement.  Usually, the terms of the deal include a lease and an option to buy with part of the rent going toward the downpayment. The forced savings helps buyers amass enough to buy the house in the specified timeframe, usually three to five years.

Considering a Lease Purchase/Rent-to-Own? Tips for Both Sellers & Buyers

Rent-to-Own Deals: Smart Questions to Ask…

Whether you are looking to sale a home quickly or purchase real estate but your credit needs repair, a lease purchase (also known as a rent-to-own option) may be a viable solution for you.  Consider these questions before proceeding:

For Sellers of Real Estate:

Weigh Lease Purchase Pros and Cons

The current real estate housing market has prompted some home sellers to offer rent-to-buy (lease purchase) agreements to prospective buyers.

These buyers pay an up-front fee of approximately 1 percent of the sales price for the option to buy, and all the payments they make during the rental period go toward the principal.

What to Do When You Can’t Sell Your Home…

Maybe you are in a position where you have double mortgages because it was easier to purchase your new home than to sell your old home.  Or, maybe you have too high of a mortgage payment and need some financial relief to avoid foreclosure.  Or, maybe you were relocated by your company or moved due to some unforeseen circumstances in your family.