how do you find free lease option listings?

Asked by Demi Mccarthy, Woodbridge, NJ Wed Oct 12, 2011

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Diane Glander, Agent, Spring Lake, NJ
Fri Oct 14, 2011
A local agent can set up a search for you in the MLS. However, very few properties get listed that way. You need an agent who will do some digging for you and call other listing agents to see if their owners would consider a lease with option.
Two things: be sure you know the difference between a lease with option and a lease purchase and 2. In a buyers' market where prices are on the decline, I don't think a lease option/purchase is a good deal. You will have to come to an agreement on the price today, but don't know what the value will be when your lease is up and you need to proceed with your option or worse, your purchase.
Web Reference:  http://www.dianeglander.com
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Deborah Madey, Agent, Brick, NJ
Thu Oct 13, 2011
Many property owners prefer to be sellers and entertain lease options as the alternative only as necessary. Those property owners who might consider lease options may or may not be quick to communicate since they first seek a direct buyer.

Some properties listed in MLS do have notation indicating that the seller will consider a lease/option.

An agent can pull data for you that identifies this status. Additionally, a cross reference of properties which are offered both for sale and for lease are possible opportunities for lease/options.

I am not aware of any comprehensive and accurate source for lease/options. There is a site for OwnerWillCarry.com, but I know little about it and pass that along for "info only" and am unable to recommend it.
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