There are lots of reasons people prefer to own than to rentâ€¦ just the freedom to be able to move a wall, paint the kitchen, or invest in the landscaping without worrying that you are throwing your money and efforts down the drain improving someone else's propertyâ€¦I get that. But it is a gamble. - and if the home doesn't appreciate to your pre-negotiated purchase price, you may find yourself unable to get financing for it when you are ready to exercise that option.
Generally, a lease option will include a "premium" payment above and beyond the fair market rent, which can be converted to down payment later on if you exercise the option. Sometimes a seller will carry the paper on the financing if you come up with more down payment during the lease period and exercise the option - especially now, if they can also charge much higher interest rates to you than the going rates (that presumably someone in this position wouldn't be eligible for) Be careful though, the "idea" of a lease option is a very common way for people to get taken advantage of. Never sign a lease option agreement without having a professional, and preferably a real estate attorney look at it first. The language is almost always convoluted, and most people don't fully understand what they are agreeing to when they do it.
Best of luck to you!
Here are purchase up to 200k, and they start at 80k which is only $400 down and $585PITI and up to $1,000 down and $1,464PITI @ 200k so call today.
Click the following URL to see the Listings purchase Los Angeles up to 200k:
CHF Access half percent down brochure, pdf
Sheryl Arndt, standard needs list checked, pdf
Why Rent brochure
CHF Access income limits http://tinyurl.com/8lzf8he
Sheryl Arndt, Broker â€“ Loan Officer
There are many Leases with option to buy here in Los Angeles and surrounding areas, and they all can be structured in a way that would be beneficial to you and the owner.
I'm available to answer any other questions you may have about lease options.
Audrey Max Group
What's the benefit of lease option? It sounds good on paper but sellers want to sell and get their money if they come out of the deal with a profit at all these days. With so many short sales and bank owned listing on the market, chances of finding an owner who wants to lease their property to maybe sell it it at the end of the lease seems slim. Especially here in LA. If you do find a homeowner that will work with you, be careful and get every last detail in writing.