searching for lease to own

Asked by lisak147, Richmond, VA Tue Mar 13, 2012

I am searching ;lease to own. Have substantial down payment.

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Jim Simms’ answer
Jim Simms, Mortgage Broker Or Lender, Louisville, KY
Tue Mar 13, 2012
About to give away your big down payment? If you do not qualify for traditional financing today you may not in the future as well, it is a lot more complicated than you realize. Info in the link below may keep you from getting hurt, good luck,
2 votes
Beth Denton, , 23111
Fri Mar 16, 2012
Check out this house that I have listed for rent. I would rather have a person interested in a lease to own. http://www.trulia.com/rental/3079268536-Single-Family-Home-R…
You can sign a lease and then if you like it and want to own it we can help you after you have had a chance to settle in.
Beth
0 votes
Robin Adair, Agent, Cary, NC
Tue Mar 13, 2012
I have a fully renovated home in The Brookland Park area that has been completely renovated and ready for Lease to Own. It's 3 bedrooms, 1.5 Baths, 2 Zone Central Heating & Air. Let me know if your interested and how much of a Down Payment you have?

Shea Adair
sheaadair@hotmail.com
804.337.9665
0 votes
Don Tepper, Agent, Burke, VA
Tue Mar 13, 2012
Here's a link to a blog I wrote on how to find lease-to-own properties: http://bit.ly/findaleaseoption However, I agree with Jim about the risks of a large option fee. (Note: It's not a down payment. You lose it if you don't exercise the option.) Typically, an option fee is 2%-4% of the value of the property. You should almost never consider more--certainly not the equivalent of a "substantial down payment." Frankly, your goal should be to provide as little up-front option money as possible. Please read up more on how to properly structure lease-options.

Hope that helps.
0 votes
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