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Molleejrr, Other/Just Looking in Texas

What are typical lease option deposit amounts?

Asked by Molleejrr, Texas Tue Mar 27, 2012

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It really depends on teh price of the house, the length of time you are looking for a lease and how quailified you are to actually buy. You should be prequailified to see what you need to do to get a mortgage and how long it will take for you to be able to be approved. Sellers can ask for $1000, $5000 or even $10,000. I fit is a slim chance you can close it may even bne non-refundable..
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0 votes Thank Flag Link Tue Mar 27, 2012
There can be considerable risk involved on the seller's part when it comes to "lease option" considerations. People can be impulsive, making rash decisions that place them in locations and homes that they later find fault with. This can result with them backing out of agreements in which they do not have a substantial financial commitment.

Additionally, it's difficult to find people that will treat and care for your home to the same level that you do.....Thus, in situations that find the seller getting the home back because of a change of heart, it helps to have enough funds to cover any repair work required to put the home back to the condition that it was before the agreement.

With this said, sellers that are well advised will require a substantial deposit amount to test the buyers resolve and to protect their investment. Specific numbers would be pure guesswork.

Good luck,

0 votes Thank Flag Link Tue Mar 27, 2012
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