Home Buying in Ashland>Question Details

Miller78, Other/Just Looking in Ashland, MO

Are there any lease to own homes in Columbia mo or Ashland mo?

Asked by Miller78, Ashland, MO Sun Nov 21, 2010

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The short answer is there are almost always a few sellers willing to consider a lease purchase. Generally they are dealing with a property that is challenging to market for one reason or another. Therefore the selection for potential buyers is somewhat limited and often not the most desireable properties although there are occasionally exceptions. Many buyers believe much or most of their "rent" will apply toward the purchase. That is not normally the case. In fact to receive any credit toward the purchase a buyer will usually need to pay an amount above the normal rental market rate for a similar property. It is also often customary for a seller to require a significant down payment as a non-refundable deposit that would forfeited in the event a buyer failed to complete the purchase in the alloted time. Lease purchases tend to be a last resort for both sellers and buyers. Therefore, I would recommend eliminating all the other options (there are many others including owner financing) before pursuing a lease purchase. Nevertheless, if you believe that is your only option I'm sure your real estate agent can locate a few properties that may work for you. If you don't already have someone helping you, contact me and I will be happy to discuss your options with you.
Web Reference: http://www.stevestrawn.com
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