You are probably looking for a lease option to purchase because your credit is not up to par for financing (and who has a 720 these days) or you do not have the required down payment. A lease option is a perfect way to purchase that perfect property, while you build up your savings, and if you can snag a great deal now, in 10-15 years, you will be happy you did.
Every seller wants to do a vanilla transaction, but with the right agent on your side and some patience, it is possible to find a seller willing to do a lease option, especially if they have very little equity. We have a platform where we can look at peoples equity situation relatively easily (not MLS) and help you find the perfect candidate for your new purchase.
Over 1 Billion Sold
I'm very familiar with this area and would love to help. First, may I ask, Why a lease option to buy? In this market it's best to buy especially if you are a First Time Homebuyer, you can take advantage of the $8000.00 tax credit. If you would like assistance or just information, feel free to contact me.
RE/MAX Marquee Partners
I have had success with lease options. however it must be a win-win for all parties and not all situations are lease option friendly. Of major importance is the seller's equity position and motivation for selling or leasing the property. Once those things are determined and we put in extra contracts in place to protect the buyer, it can be a desirable opportunity.
Contact me with more property details and I'll be happy to assist you. Are you looking for a property east or west of Crenshaw? How many bedrooms? How many bathrooms? Do you want a home with a pool or view? Answers to these questions will help me narrow the search and focus on the opportunities that are going to be right for you.
All the best!
Keller Williams Realty