More frequently I am seeing posting regarding this optoin.
May I ask, "Why do you believe this is a good option for you?"
Many tiimes, when a trend become apparent, there is an acutaul event driving the response.
What is the source of your interest in lease/purchase?
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
Begin by truly understanding was a "lease purchase" means and really involves. This primer may be helpful.
Most lease purchase sellers will expect or require a fairly large deposit. This is done in an effort to protect their investment and insure that should the buyer trash the place and walk away that there are funds available to correct the problems.
Lease purchase agreements should be drafted by an attorney. If you find yourself agreeing to use the seller paid attorney ask yourself who the terms would probably benefit? You should probably have someone negotiating these conditions from your perspective. Always review your documents carefully. many people sign first and then find after the fact that they agreed to terms that were unacceptable.
Buyers that find themselves in "lease purchase" agreements too often find themselves over paying for the property. Because of these special conditions buyers often lose their true ability to negotiate
and often pay above the present market value.
And finally, take note that your entire monthly rental/lease amount may not be credited to your principal. Often this involves only a percentage of your monthly payment. Do the math and read and comprehend what you sign.....or it could really cost you.
Still interested? proceed with CAUTION!
Bottom line... Call a trusted Realtor and get with a trusted Lender and they can get you on the right path.
There is a lot more to it and a one on one meeting to get a better understanding of your situation and needs would be best. Feel free to email me at Rinaldi@BatonRougeAvenues.com or message me and I will be glad to meet with you and give you a better personal valuation of your situation.
Hope this helps,
Rinaldi Jacobs Jr.
Harris Manor Realty