Rentals in Bloomfield Hills>Question Details

Sw, Both Buyer and Seller in Bloomfield Hills, MI

Are there any homes where the owners are willing to do lease purchase and a percentage of your lease payment goes toward the home purchase?

Asked by Sw, Bloomfield Hills, MI Wed Apr 25, 2012

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All things are possible in real estate. The answer is yes. Essentially, the terms are spelled out in a lease with option agreement, which specifically details the understanding between the two parties.

Generally, the lease portion is the enforcable part of the agreement. Whether the home is eventually purchased is generally at the sole discretion of the buyer, (which is the option).

It is crucial that you have an agent well versed in this process.

Feel free to call me with any further questions.

Regards,

Mark Mergener
Cell 248 935-0335
1 vote Thank Flag Link Wed Apr 25, 2012
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