Mortgage Brokers - Articles & Advice

How to Sell Your House By Lease Options

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.

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

Related Pages

Mortgage Brokers - Shop these top lenders for comparison quotes.

Selecting The Right Mortgage - How to choose the right mortgage based on your lifestyle - Advice on the best mortgages for different phases of life, future income changes, and risk levels.

Down Payment Leverage - Avoid PMI with a two-loan strategy. How to grow your equity faster.

Online Lenders - Tips on evaluating online lenders and their offerings.

Refinance- Tips on when refinancing is the right decision - How to avoid paying points and other lender fees.

Home Loan Online - Discover the best ways to get the lowest rates - Links for checking current rates.

Real Estate Settlement Procedures - Your rights under the Real Estate Settlement Procedures Act - What protections you are entitled to and what needs to be disclosed to you.

Private Mortgage Loans - When to use private mortgage loans as an alternative funding resource - Qualifying for a private mortgage loan is based on the property value, not your personal credit.

Loan Directory - Complete home loans directory for thousands of loan products, mortgage companies, brokers, and lenders. Search our loan directory by keyword or by category for complete listings of all things related to mortgages, home equity loans, refinance, and more.

In The News

	Web Home-Loans-Help.com