Here are the BENEFITS of Lease Purchasing:
- It works! We speak from experience. Although we can’t guarantee results, most of our tenant-buyers get a mortgage within 1-2 years.
- Buyer is able to buy a house without perfect credit. During the option period the buyer can repair most credit problems while proving to a future institutional lender that he, she or they can afford the payments, thus improving their chances of getting a great mortgage in 1-2 years.
- Get a great price for your home in this program, and you won’t have to pay any Realtor commissions!
- Debt Relief! How much longer can you continue making mortgage payments on a 2nd house, or a vacant house? Wouldn’t it be nice if someone else made your mortgage payments for you? You can start collecting rent instead of bleeding out cash on your vacant property.
- Lose the hassle! You can move on from the property to other things.
- It doesn’t cost you anything. We obtain our option fee from the tenant-buyer.
- Advertise the home yourself, if you wish. If you find a tenant or a buyer, you are under no obligation. So go ahead and keep advertising the house yourself and/or list it with a Realtor.
- May have a Buyer. We may already have someone who is very interested in homes in your neighborhood.
- Always a strong demand for Lease Purchase homes. There is a huge pool of Buyers for these homes.
- Tenant Buyers have an ownership mentality. Tenant Buyers take care of the property better than regular tenants. They pay on time, take care of repairs, and won’t call you to fix a clogged toilet late at night.
- We carefully pre-screen all our applicants. We run a complete background check, call all their references and previous landlords, verify paychecks and employment, etc. Our mortgage broker reviews all our applications and tells us if she thinks they will be able to get a mortgage in 12 months or less. If they can’t, they are not accepted into our program.
- Our Tenant Buyers work closely with a Credit Counselor in a Credit Repair Program during the Lease Purchase period. We also provide coaching and encouragement to the Tenant-Buyers throughout the Lease Purchase period to help them repair their credit and get permanent financing.
- We report our Tenant Buyer’s rent to the credit bureaus, establishing a payment history for Credit Repair.
- Keep title until the Tenant Buyer actually buys the property.
- You retain all the great tax benefit of ownership. So you still keep all your tax deductions and then some – mortgage interest, property taxes, and depreciation. (Seek a tax accountant for professional advice.)
- Top-market rent, top sales price, repairs taken care of, no commissions … enough said!
Bottom line – we can save you money and you can get full price!
Like to get started immediately? Call us at (727) 210-5504 !