Is the property available for lease with option to buy? We toured the house and like it.

Asked by Lori, Pineville, MO Mon Mar 9, 2009

However we are unable to get financing.

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Ed Simpson, Agent, Rogers, AR
Tue Sep 14, 2010
When financing is not available then a lease with an option to buy would work for you while working to obtain financing in the future. An option to purchase may require a down payment, or an extra amount from a monthly payment going towards a down payment. For an option to work, the seller needs to be compensated to accept a lease option agreement, and the buyer needs to have an amount of money down or extra payment going toward the purchase price reducing the chance of walking away from the purchase in the future.

Either way, as the buyer with a lease option to buy, eventually you need to obtain financing. I recommend you now begin working on a strategy that will allow you to get that financing in the future.
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