looking for house in Upland lease with an option. 3/2 with pool...

Asked by Maryann Floriani, Upland, CA Mon Mar 4, 2013

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This question was asked from this property: http://www.trulia.com/rental/3105372205-193-Sherman-Way-Upla…

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3
John Walin, Agent, Libertyville, IL
Mon Mar 4, 2013
Lease option works against you as a buyer, the seller wants to get more in the future than what they can get today. Also, the rent amount is typically higher than market rent and that extra amount goes toward eventual purchase price toward your down payment and is not refundable. You would get right of first refusal, but home inspection probably needs to be done before lease, financing contingency needs to be waived, so if you cant get a mortgage now, you cant use that for an excuse to get out of the deal and you lose the additional option money installments you paid in the rent. Best to do a straight up rental now and at the end of the lease, pay for an appraisal and offer your landlord to purchase at that appraisal number.

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1 vote
Monique Ott-…, , G.L. Lowery Industrial Park, Groveport, OH
Thu Sep 19, 2013
Maryann,

Did you find a home in Upland? I just moved from Florida in July and love living in Upland. I just opened a second office in Upland and would love to help you explore all your options. Please give me a call at 909 296-5558 if you need help finding a home. I would be happy to assist you.

Have a great day!

Monique
0 votes
Karen Holder…, Agent, Rancho Cucamonga, CA
Mon Mar 4, 2013
A lease with an option to buy is not easy to come by. Sellers are not usually willing to lease with an option, most just want to sell and cash out. Sometimes, however, you might be able to find a landlord who is willing to lease and maybe give you the option to buy, if they are thinking about selling the property at some future date.

I would like to help you explore this more. If you are interested please contact me.

Regards
Karen Holderness
DRE # 01819779
(909) 240-6338
0 votes
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