Are there Buyer's Agents out there who specialize in helping me find and secure a Lease/Purchase?

Asked by Amanda Mckisson-kijek, Duluth, GA Sun May 20, 2012

Most agents I've spoken to focus on steering me away from Lease/Purchase. I understand their reasons. Working with a Lease / Purchase client doesn't pay as well (or as soon) as brokering a direct sale. I was looking for a home earlier this year and working with a Buyer's Agent. Unfortunately, ran into a snag qualifying for financing and wont be able to get a bank mortgage right now. So had to switch my search focus to Lease /Purchase. Understandably, my current agent isn't as interested working with me for Lease/Purchase. So I'm thinking of changing agents and wondering if there are any out there that specialize in finding and assisting L/P buyers with Lease /Purchase properties.
If you are such an Agent, please contact me.

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Jim Olive, Agent, Key West, FL
Sun May 20, 2012
I disagree strongly with the notion that l/p's are bad. I just sold one of my own homes that way. I can virtually guarantee you that the buyer would have paid a LOT more for the same property if he just waited until the closing date and then started shopping. Prices are undoubtedly lower now than they will be in a year. If the deal is bad for anyone, it's me, since I have to wait a year to get my equity out of the house. But I'm not complaining because the buyer is a decent guy who just can't get a loan right now. One thing I can tell you for certain: beware of anyone who tells you with certainty that anything is ALWAYS bad or NEVER good. Each case should be viewed individually and judged on it's own merits. Good luck with your home search...
1 vote
Thanks for the sage advice. Good to hear that my thinking is NOT ALL BAD. As you can see from most of the other answers, it's difficult to find anyone that would say a good word about L/P.
Flag Mon May 21, 2012
Chuck Green, Agent, Norcross, GA
Sun May 20, 2012
The aspects of a lease purchase heavily favor the seller not you...another option for you would be seller financing which will typically favor the seller in regard to finance terms but not in pricing. Lease purchase should be a last result...such as you are unable to rent a home or apartment. Have you started on your plan to fix what your last lender stated was your snag?

0 votes
Joseph Domino, Agent, Scottsdale, AZ
Sun May 20, 2012
Lease/Purchases almost always fail. You are better off trying to find a Seller Financed home. At least you will have a contract that stipulates the terms and conditions. You will own the home and if such time comes that you can refinance at better terms then you can improve your position.
0 votes
Morgan Hill,…, , Sandy Springs, GA
Sun May 20, 2012
Lease purchase's are a wast of time and money.. unless you are the seller. Any questions?
0 votes
Hank Miller, Agent, Alpharetta, GA
Sun May 20, 2012
So the reason agents are telling you not to consider lease purchases boils down to commissions? Either you have horrible agents counseling you or just think agents are commission chasers. Botrh of these are of course possible as there are still far too many dumb agents and too many that do chase commissions.

However, the truth is that under the best of circumstances,you will loose money or overpay with a lease purchase. Rent until you can get approval to buy - do not consider a lease purchase under ANY circumstances.

0 votes
Michael Hamm…, Agent, Suwanee, GA
Sun May 20, 2012
I can help if you are willing to listen. In whatever you decide, Good Luck!

Michael Hammond
0 votes
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