What is a LEASE PURCHASE? Also called a Rent-to-Own, or a Lease Option, it is simply an agreement between a seller and a buyer, where the tenant/buyer agrees to rent the property for a specified amount of time and have the right to purchase it at the end, or during, the lease term. Often, the lease purchase allows the tenant/buyer to have a portion of the rent go towards the purchase price of the home.
How is this way of selling or purchasing a home beneficial? It's a benefit to both parties when it comes to a lease to own. The seller immediately opens the floodgates when they decide to lease purchase their property. So many buyers are tired of giving their hard-earned money away to a landlord and would rather have their money working towards their dream: to purchase a home. Also, sellers quickly have someone in the home covering the owner's expenses and have tenants who truly care about the property, because very soon it will be theirs!! There are so many more benefits that will be explained below, but the bottom line is that the lease purchase is for people who like options, not the same old selling methods.
If you are trying to sell your home, this is why lease purchasing makes sense:
Our business is based on a win/win philosophy. Everyone should win in a real estate transaction. What the seller is getting:
Top sales price for their property
Large available market of buyers
Better quality tenant
Market or above market rents
No day to day maintenance
Seller remains on deed
Seller retains tax benefits
No real estate commissions (immediately saving 3-6%)
No management headaches
Professional guidance from the best in the business
Contact us for a free consultation on how we can best serve your needs, either as buyers for your property or as consultants to help you through the process.
If you are trying to purchase a home, this is why intelligent buyers choose lease purchasing:
In these turbulent real estate times, it can be difficult to secure financing the old-fashioned way. Find a real estate agent to drag you around to open houses, come up with a whopping 20-30% down, then cross your fingers and hope that your credit is perfect and there are no problems with the close. Also hope that the seller is true to their word. Lease purchase is the way of the intelligent buyer for a number of reasons:
Low down payment
Rent money is working for you
Option consideration is credited to the purchase price
Price is locked in (a plus in an appreciating market)
Time to see if this is truly the home of your dreams
Time to check out the neighborhood
Time to obtain the best financing available
Control of your future
No property taxes
Here at James Consulting Group we constantly strive to accomplish a level of service and professionalism unparalleled in the business. For a free, no obligation consultation, contact us at the number below. We are real people who answer the phone and try to find real solutions. We specialize in the San Francisco Bay Area, Sacramento Valley, and the San Diego Counties.
James Consulting Group
A division of James REI Corp.
650-472-2976 or
650-678-8205
533 Airport Blvd. Suite 380
Burlingame, CA 94010