What Is Lease Purchase
In Terms, there are several options for homeowners to choose from when they want to sell their homes. One of these is Lease Purchase and it’s one of the fastest ways for you to sell your home while retaining ownership until it’s fully paid. Confused? Don’t worry. Everything will become clear as we go along.
Lease Purchase In A Nutshell
Generally speaking, Lease Purchase is a Terms option where the seller retains ownership of the house until the full amount is paid. In the meantime, homeowners get a down payment and regular payments are made at amounts that they agreed on. It’s basically a means of making sure that the house gets paid out before ownership is transferred.
Ownership is pretty much just a formality at this point though since the seller doesn’t really need to do anything. Repairs will be taken care of by the buyer, there’s no need to interact with the potential owners, and the tax benefits will still go to the sellers in the meantime.
Why Lease Purchase?
There are several reasons for why lease purchase is a good option for sellers, and the most obvious is you are effectively getting money for your house without completely letting go of it. So if you are feeling unsure about the likelihood of your house getting sold, you can be at ease that the home is still effectively yours.
For owners of high end homes, this option can be particularly useful since they can make sure that the house can be fully paid before they let go of it. It’s only natural that they would want to ensure that it’s sold without any problems.
Lease Purchase is incredibly simple and fast too since there’s no need to deal with banks and there’s a much bigger pool of potential buyers. When using real estate agents who will then put the homes up for listings, only about 20 percent of Americans can buy the homes. With Lease Purchase, the other 80 percent become available to buy your house, so selling becomes faster and easier.
There’s also the matter of the home losing value if it stays on a listing for months or years, which is not uncommon among high-end homes. By the time it can be sold, a house could be worth a few hundred thousand dollars less. There’s no more need to deal with the stress of selling your house the traditional way. Contact us today to see what options are available to get your home sold quickly for top retail dollar.