Tag Archives: For sale by owner

Should you consider a lease with option to buy?

6 Nov

Should you consider a lease with option to buy?  For many individuals leasing a home with an option to purchase is an attractive way to purchase a home. Especially for those experiencing credit issues and who do not anticipate the situation to be cleared up for more than a year.

Sellers finding it difficult to sell their home are more willing to write a Lease to Purchase Contract. This way you can go ahead and move into your own home while mending any issues you have.

Typically, a portion of each month’s rent will go towards the purchase price of the house. The amount will depend on the terms of your contract. A good negotiator might even be able to get 50% of the rent to go towards the purchase price of the house. Keep in mind, in Lease to Purchase Contracts, the Seller will want money down on the home.

This gives them some assurance that you are a serious buyer. This money can also be used as a “Deposit” should you eventually decide against purchasing the house. It can cover damages that you and your family may have done to the property. These are all issues that should be addressed in your Lease to Purchase Contract.

There are certain properties that are more practicable for a Lease to Purchase Contract:

• Fixer-upper homes that need a few repairs
• Homes with little or no equity
• Homes that are For Sale by Owner

Buyers whom are more likely drawn to this type of sale:

• Buyers with damaged credit
• Buyers going through a divorce
• Buyers who don’t have much cash set aside for a healthy down payment
• Buyers who are self-employed

Sellers should keep in mind, if your home has been on the market for a considerable amount of time, you may want to consider a Lease to Purchase option. This option expands your market of homebuyers.

If you’re concerned about the terms of the contract and whether you will get your money keep in mind, you can negotiate the terms in your contract. If you’re looking for cash flow, then ask for a sizeable down payment. Often a buyer has cash to spend but their credit is flawed. Stipulate in your contract what portion of the down payment will go directly to the seller should the buyer default on the contract.

Another item to consider in most Lease to Purchase Contracts, the property is returned to the Seller if the Buyer defaults in any way. You would be able to get your house back and resell it.

For both home buyers and sellers, Lease with Option to Buy can be an attractive proposal.

About the Author:  Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to communityinfo@comcast.net

View thousands of new and resale homes:  www.Northeast-Florida-Relocation.comwww.BoldRealEstateGroup.com,  www.NewYork-Florida-RealEstate.com, www.PGAVillage-Homes.com a Golf Style Private Community,  www.TheCascadesAtStLucieWest.com  a 55+ Resort Lifestyle Community, www.HealthcareRelocationServices.com

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Should you consider a lease with option to buy?

25 Oct

Should you consider a lease with option to buy?  For many individuals leasing a home with an option to purchase is an attractive way to purchase a home. Especially for those experiencing credit issues and who do not anticipate the situation to be cleared up for more than a year.

Sellers finding it difficult to sell their home are more willing to write a Lease to Purchase Contract. This way you can go ahead and move into your own home while mending any issues you have.

Typically, a portion of each month’s rent will go towards the purchase price of the house. The amount will depend on the terms of your contract. A good negotiator might even be able to get 50% of the rent to go towards the purchase price of the house. Keep in mind, in Lease to Purchase Contracts, the Seller will want money down on the home.

This gives them some assurance that you are a serious buyer. This money can also be used as a “Deposit” should you eventually decide against purchasing the house. It can cover damages that you and your family may have done to the property. These are all issues that should be addressed in your Lease to Purchase Contract.

There are certain properties that are more practicable for a Lease to Purchase Contract:

• Fixer-upper homes that need a few repairs
• Homes with little or no equity
• Homes that are For Sale by Owner

Buyers whom are more likely drawn to this type of sale:

• Buyers with damaged credit
• Buyers going through a divorce
• Buyers who don’t have much cash set aside for a healthy down payment
• Buyers who are self-employed

Sellers should keep in mind, if your home has been on the market for a considerable amount of time, you may want to consider a Lease to Purchase option. This option expands your market of homebuyers.

If you’re concerned about the terms of the contract and whether you will get your money keep in mind, you can negotiate the terms in your contract. If you’re looking for cash flow, then ask for a sizeable down payment. Often a buyer has cash to spend but their credit is flawed. Stipulate in your contract what portion of the down payment will go directly to the seller should the buyer default on the contract.

Another item to consider in most Lease to Purchase Contracts, the property is returned to the Seller if the Buyer defaults in any way. You would be able to get your house back and resell it.

For both home buyers and sellers, Lease with Option to Buy can be an attractive proposal.

About the Author:  Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to communityinfo@comcast.net

View thousands of new and resale homes:  www.Northeast-Florida-Relocation.comwww.BoldRealEstateGroup.com,  www.NewYork-Florida-RealEstate.com, www.PGAVillage-Homes.com a Golf Style Private Community,  www.TheCascadesAtStLucieWest.com  a 55+ Resort Lifestyle Community, www.HealthcareRelocationServices.com

Buying a Budget Home by Bold Real Estate Group

25 Oct

Buying a Budget Home By Bold Real Estate Group.  When it comes to real estate, it’s really hard to beat an inexpensive home.  You may call it inexpensive while others refer to it as a cheap home – but they are very affordable and ideal for those on a budget.

These bare-bone types of homes represent a way to purchase property at a low price, build it up, and have instant equity.  Making money with real estate is easy to do – no matter how you look at it.

Although you can find cheap homes throughout your state, some will obviously be better than others.  Some are in great neighborhoods, giving you plenty to see and plenty to do all around you.  On the other hand, most towns that offer the cheapest homes normally have a bad situation when it comes to the job market.  They can be great to retire to or settle down in if you own a business, although they aren’t great if you need a job.  Internet marketers and writers are finding these areas, and are flocking to them at a very fast pace.

The Best Way to Purchase Low

You can save quite a bit of money by buying a home that is practically unfinished, but still fits your needs.  What this means, is buying a home in the inexpensive areas of your town, or buying a home that has not been completed yet.  You shouldn’t be focused on one type of home or neighborhood, but instead look at your available options and compare prices.

Many builders have gone out of business, leaving plenty of unfinished properties. Let your real estate agent investigate how to purchase these almost finished properties. You’ll save a bundle and can have the home completed within months.

Keep in mind that buying cheap homes doesn’t necessarily mean buying a rundown place or buying your home in a bad part of town.  You can get a cheap home in a great neighborhood, if you weigh your options accordingly.  If you shop around and look at different areas, you might find yourself very surprised at just how many homes are available at cheap prices.

In some cases, you can end up paying the full price of a home and still end up spending less than someone else might spend.  Although price has an impact, financing is also an area that can help to make a home more affordable.  If you get a low interest rate, you’ll save a lot of money when you buy the home.  There are several ways that you can save money through your finance options, which is why you should always research what’s available to you before you buy.

Contact a real estate agent and provide a list of what you’re looking for and how you want to save money. Finally, keep your options open because now is the best possible time to negotiate.

About the Author:  Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to communityinfo@comcast.net

View thousands of new and resale homes:  www.Northeast-Florida-Relocation.comwww.BoldRealEstateGroup.com,  www.NewYork-Florida-RealEstate.com, www.PGAVillage-Homes.com a Golf Style Private Community,  www.TheCascadesAtStLucieWest.com  a 55+ Resort Lifestyle Community, www.HealthcareRelocationServices.com

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