Many property owners, investors and homeowners, are barely holding on waiting for the market to rebound. Although, there are encouraging signs that the real estate market is starting to rebound, the truth is that it is not the case for everyone. While certain locations across the country are improving, others are still in the dark. It could take three or more years to do so. So then the question is, is there a way to find a buyer and sell it for more than I can today? Well, in fact, there is!
The answer is using a “Lease Purchase Option”. In a nutshell, offering a LPO to a tenant/buyer guarantees you several things:
1. You have a buyer today who agrees to purchase your property at tomorrows prices.
2. You can receive up to 10% down upfront.
3. You have instant monthly income during the time of your lease (usually up to three years).
4. Little hassle: Because the purchaser is more than just a tenant, they will agree to treat the home as theres and assume all customary homeowner responsibilities, thereby relieving you of major landlord hassles.
5. During the time of the lease or at the end of the lease, you have a buyer ready to sign at closing.
6. You can negotiate terms of sale upfront including commissions and closing costs.
7. Minimal or no upfront costs to investor/homeowner.
Not bad, eh? Obviously, you’ll want to work with someone who has experience with LPO and can guide you during your negotiations. Lifeline Property can help you locate just the right tenant/buyer for you quickly and set up your Lease. We also have owe own real estate attorney who will review the lease and make sure it is in both parties best interests. For more information, contact Annette at Lifeline Property 908-528-0039 or visit http://www.lifeline-property.com and click on the HARP link to read more about Lease Purchase Options.