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What is a lease-purchase?
A lease-purchase is nothing more than a sales agreement, with an extended closing date, and a lease to control the relationship between initial occupancy and closing.
Why would a Seller offer a lease-purchase arrangement?
There are times when a homeowner wants to sell, but is unable to for a variety of reasons. If the reason has to do with insufficient equity in the subject property, a lease-purchase may be a good alternative. Depending on how the contract is crafted, you may be able to capture some equity on the front end from the tenant deposit, and over time, to the extent that monthly payments exceed the rental rate. You may also build in contract provisions for sales price acceleration to match valuation at the time of closing. The lease-purchase method of selling is often considered complex, but it really is not difficult, if you have professional guidance. If you want to know if this method is right for you, contact us for a confidential no-fee consultation.
Why would 3 Options Realty be the place to go for this service?
At 3 Options Realty we specialize in working not only with sellers and buyers, but also with tenants and landlords. The fact that we have the experience and operating systems to lease and manage property is one of the principal differences in this brokerage over traditional brokerages. A critical component to a successful lease-purchase is the property management aspect. If the management period of the lease-purchase does not go well, the deal will collapse. And even though we make security provisions for such occurrences, nobody wants to see the deal fall through. Usually the security provisions are only enough to make the seller whole, and then we have to start all over again. If you want to actually see the deal through to closing, 3 Options Realty is the place to go.
Derek Leman - Name: Derek Leman Email: derek@3optionsrealty.com Phone: 770-378-4673
I learned the real estate business first hand through buying, renovating, renting, managing and selling properties on my own and I know how challenging all…
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We were so fortunate in choosing Brenna to sell my mom's home. She went through the house and made suggestions as to where we should make updates, that were not overly expensive, but that greatly enhanced the home. These updates made it possible to get top dollar. We had multiple offers within 3 days of listing. She is available 24/7 and is on top of everything in the process to provide a smooth, quick transaction.
Dealing with Dan has been a very good experience. He brings personalization and total involvement and carefulness to the process. He dots all the I's and makes sure the T's are crossed. He also brings a wealth of quality personal experience from both the sales and buying sides. Great to have on your team!
Several years ago Dan helped us look for a lakefront home on Lake Lanier. Dan did his research and showed us many interesting properties, spending many hours with us viewing each of the choices. Dan also helped us in the sale of our home in Roswell, as well with property management for a friend's townhouse that we referred to him.
We moved from Colorado and had no knowledge of the housing market in the Atlanta area. Dan was very attentive to our needs. We learned a great deal about the home buying process and benefited more from learning what not to buy. His knowledge and experience formed a bond of trust that made purchasing our first home in Georgia an enjoyable experience. We would highly recommend choosing Dan Wilhelm as your next Realtor.
