Home Buying in Carson City>Question Details

dawnsmith223, Home Buyer in Carson City, NV

Do you need a down payment for a lease to own home ?

Asked by dawnsmith223, Carson City, NV Mon Jan 13, 2014

Help the community by answering this question:

Answers

3
Yes. It's security and deposit a little more than rental deposit. That goes towards your future purchase. Down depends on buyer/seller agreement. Vina Albright. ALBRIGHT REALTY. 776-292-0310 for more
0 votes Thank Flag Link Mon Jan 13, 2014
Hi Dawn,

Yes, it is called a lease option fee. It is usually 1% - 5% of the purchase price, which is credited towards the purchase price. It is used to lock in the purchase price so the purchase price doesn't rise during the lease period. If you don't exercise your option to purchase the property at the end of the lease, the seller can keep the lease option fee.

Let me know if you have any further questions or would like to look at any properties.

Thanks,


Shane Martin, REALTOR®, CDPE, SFR
Coldwell Banker Select Real Estate
1657 Hwy 395 N
Minden, NV 89423
(775) 721-2135
shane.realestate@gmail.com
0 votes Thank Flag Link Mon Jan 13, 2014
Dawn,

You do not need a down payment for a lease to own home. But what you may need is what's called Option Money. Option money is what you pay the owner to lock the price of a property with terms. The option money amount, as well as the terms, is negotiable between the renter and the owner.

Currently there are no homes in Carson City with a lease to own. There is one in Dayton, one in Stagecoach and 4 in the Reno/Sparks area.

If you found my explanation helpful, or would need more info, call me at 775 315-2838.
0 votes Thank Flag Link Mon Jan 13, 2014
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer