Make sure you read a post we had written on Renting to Own in the Santa Clarita Valley. There are a fair share of games being played in the Real Estate world presently – you need to keep yourselves safe when making the largest investment of your lives.
The lease option can prove to be a great real estate answer for buyers and sellers. In todays’ tough market when buyers are having a hard time qualifying for loans and sellers are just plain having a tough time, a lease option can provide the answer allowing both sides some adjustments and allowances that work to get a real estate transaction completed.
A lease option is basically a lease that allows a tenant to buy a property after a decided amount of time or within an agreed upon time frame, for a certain price. Typically a percentage of the rent counts toward the purchase price but there is no set guideline for a lease option purchase.
In a nutshell, a lease option represents creative financing. The terms can be tweaked to benefit either party and get a deal to the closing table, which sounds easier than a lease option really is, because this type of transaction can be timely and involve a lot more paperwork. A lease option can often get a home sold when no other method seems to be working, offering a basic rent-to-own scenario that benefits both sides.
We are about the best options for Real Estate Sellers and Real Estate Buyers. However, if you are not getting the facts, you are doing yourself a HUGE disservice.
Get with a Real Estate Professional and verify what they are telling you. Be Safe.