Investment & Financial Articles
Title: How to Sell Your House By Lease Options
Author: Caterina Christakos
Article:
How to Sell Your House By Lease Option
Many people buy a house then have to move within a few years,
due to divorce, relocation or financial difficulties. Without
any equity though, it can be nearly impossible to find buyers
and you still have realtor fees to contend with. There is a
simple, easy way to have your payments taken care of for you and
find a buyer, so that you can move onto your new life quickly
and easily.
Homeowners can sell their homes by lease option.
What are the benefits of selling my house on a lease option?
When you lease option your house, you sell the right to
purchase your home at a set price within a predetermined period
of time. During that time, the purchaser of the lease option
pays you a set monthly fee. They pay what amounts to their
"
rent" to you with the provision that they can purchase your
house within a certain period of time and have part of the rent
that they have paid you applied to their final purchase price.
Q What are the advantages of selling my home by lease option
over listing it with a Realtor?
By selling your home in this way, you avoid realtor fees and
some other closing costs. You also have a tenant who intends to
purchase your property. They will take better care of the home
than a renter would and may even fix it up a bit for you. You
also, naturally, have your payments taken care of and keep the
tax benefits of owning your home, until the final sale.
Q How long does it take before your tenant/buyer cashes me out?
A That depends on a number of different factors. Many people
with less than perfect credit can rebuild their credit and
receive a mortgage from a mortgage broker within 6 consecutive
payments.
Q Why don't I just sell the house myself? If you have little or
no equity in your home, it will not be considered a good
investment by most buyers.
Q What if my tenant/buyer doesn't buy the house? A It is
important to pre-screen buyers to make sure that they want to
buy the house and are able to buy it at some point in the
future. However, circumstances can change in someone's life,
such as an unexpected job transfer, that make it necessary to
move. In situations like that, a new tenant buyer would have to
be found.
About the author:
Caterina Christakos is an independent real estate investor and
facilitator. For more information or help setting up your lease
options and screening buyers email Caterina at
Cchrist896@aol.com <mailto:Cchrist896@aol.com>
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