Lease Purchase is essentially a rental agreement combined with a purchase agreement with pre-negotiated terms. During the term of the lease, the tenant/buyer has the option to purchase your property at anytime. The sales price, length of the term and rental payments, etc. are all determined in advance. Our objective is for one of our tenant/buyer’s to qualify for a mortgage as quickly as possible after they have moved into the property, to cash you out as soon as possible
The benefit of our lease purchase program
- You will receive more money in your pocket than if you rent it out yourself because you will never have a vacancy and never have to pay for any costs related to repairs or upgrades
- You are guaranteed to sell your property
You will get fair market price for your property (with no hassle and no realtor fees) - All maintenance and repairs will be our responsibility at our cost
- You will save money, as you will not have to advertise your property anymore
gillian churcher
is it possible for one of these people to buy the house, then rent it out to me so that i would be able to stay on here?
Michelle
I assume that you mean that somebody wants to buy the house from you and then put you in a rent-to-own arrangement.
If so, you have to be really careful with arrangements like that. Ask yourself what will it take for you to be able to really buy the property back at the end of the term.
Is the purchase price realistic? Will the bank think this is the real property value? If no then they will not
give you a new mortgage and you will loose your down payment and the extra credit you paid in high rent.
If you want to discuss further feel free to call us.
Nick Lapating
Will be my property get a fair value as per current appraisal?
Michelle
In short, yes. This is what make our lease-purchase program one of the more powerful tools to stop the foreclosure. Especially in cases where there is negative equity.