Do you know what the lease/purchase terms would be on this house?

Asked by jane doe, High Point, NC Thu Dec 18, 2008

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This question is about this property: http://www.trulia.com/property/31485823-3320-N-Rockingham-Rd…

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Andrew J. Co…, , Greensboro, NC
Thu Dec 18, 2008
The other answers you will receive to your question will be on the mark. The key component to a Lease/Purchase transaction is that few people execute the option to purchase. Home sellers with good representation understand this and advise Sellers to make a good price on the purchase. Also, the Seller is offering this option, no pun intended, because they could not sell the house for the amount they desired. Make a decent lease payment and go low on the purchase price and you might strike a good bargain.. Good luck.
Web Reference:  http://CJAHomes.com
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Larry Story, Agent, Greensboro, NC
Thu Dec 18, 2008
Tracy there are not specific terms spelled out for a lease purchase in the listing. I have checked the MLS and basically you do an offer just as you would with a regular purchase. I am actually working on a lease purchase deal not far from this home. You figure up A) how much you want to offer as a purchase price B)how much you are offering as a payment on an option to lock in that price C) how much you are offering on a monthly lease payment (and how much of that will go towards the purchase price) D) when you would be able to close. Then you submit with an offer and start the negotiations. If you are from High Point then you know this is a nice area. lf you like I can run the numbers for you and tell you my thoughts.

Hope this helps,
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