Home Buying in 80906>Question Details

Dosbobos, Home Buyer in 80906

I'm interested in a Lease-Option purchase for a home. How do I determine if this is available for a listing?

Asked by Dosbobos, 80906 Sun Feb 20, 2011

I have other real estate, excellent credit, etc., but a high debt-income ratio, so a conventional loan has been tough to get.

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Dear Homebuyer,
I would be very coutious about Lease-to-own option, especially if you are not completely sure about your future financial qualification or maybe, job transfer. You will be paying higher rent and if you won't close on the date agreed upon, you will loose all your money.
Please, consult a real estate attorney.
0 votes Thank Flag Link Tue Apr 26, 2011
Dos,

Because most sellers are seeking the opportunity to sell their home outright trying to identify those that are possible "lease-option" opportunities becomes a problem. Many sellers that eventually elect to go this route, do so as an after thought....after they have abandoned regular sales options.

Probably the best way to identify these sales opportunities is through the listing agent. They may have a feel if their customer would entertain this type of arrangement.

One thing you can probably depend on is a higher sale price and deposite amount since most sellers will be looking for ways to protect their interests resulting from trying to work within the perameter of your unique needs.

We hope you find this information beneficial.

Bill
0 votes Thank Flag Link Sun Feb 20, 2011
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