Homes Manual

Tenant/Buyers Have Multiple Options


Lease Purchasing affords the tenant/buyer a wonderful opportunity to get into a home today, that he or she can buy tomorrow. But what options are available at the end of the contract? Fortunately, Lease Purchasing provides multiple options here also.

Imagine having lived in a nice house in a good neighborhood for a number of years. Now comes decision time. Let's examine the options you have.

First, you can exercise the option and buy the house. You've already negotiated the terms of the sale, so you know what you'll be paying for the property. But, you may also have an option within this option. Let's say the housing market in your area has softened and the home is worth less than when you contracted for it. Don't you think the seller may be willing to re-negotiate the terms of the deal rather than get the house back. There's a good chance he will. To re-cap, you can exercise the option or re-negotiate.

Your second choice is to not exercise the option. In this case, you've rented a nice house for a number of years and had great terms for that length of time. Here comes another big but, if you've had a good record of payments with the seller, and you would like to stay in the house, possibly the seller would consider turning your contract into a straight rental.

A third option has the potential to be a profit maker for you, the tenant/buyer. The end of the contract period is approaching and for whatever reason, you don't want to buy the house. What do you do? Well, if the real estate market in your area has been strong, why not sell the house and make a profit on the deal.

What you say, how can I sell a house I don't own? It's simple. You exercise what is called a simultaneous close.

Remember, you have an option to buy this house at a set price, if it has appreciated over the length of the contract, you can sell it to a third party for a price greater than your option price. You pocket the difference. Instant profit!

Well, there you have it. Options, options, and options within options. As you can see, Lease Purchasing provides the tenant/buyer with the flexibility to be a "smart renter". No longer do you have to throw your monthly payment down a black hole. Make the best use of your money, rather than letting your landlord use it for his new car payment.

Only the wonderful niche of Lease Purchasing can give you so many choices. Don't ya just love it!

For additional information on this topic, see How To Live In Your Dream Home Today And Buy It Tomorrow! Without Mortgages, Real Estate Agents Or Credit! at http://www.homebusinesssolutions.com/products/lpbuyerman.htm

Copyright 2003 DeFiore Enterprises

Interested in having your own successful, home based creative real estate investing business? Chuck and Sue have been helping folks start successful home based businesses for over 19 years, and we can help you too! To see how, visit http://www.homebusinesssolutions.com for the latest FREE tips and tricks, educational products and coaching in creative real estate investing and home based businesses. No time to visit the site? Subscribe to our "how to" Home Business Solutions Digest, it's like having your own personal coach: mailto:subscribeHBS@homebusinesssolutions.com


MORE RESOURCES:
After 30 years of marriage, Sharon and Michael Newman decided it was finally time to move from the Catskills to New York City.


The house, designed by the architect Eric Fisher, looms over the street like a big industrial arm.


A town house in Dallas, a midcentury modern in Rhode Island and a Tudor in Denver.


Meet the real estate broker’s interns: an ambitious group willing to do anything, earn nothing and wake up early on a Sunday to fluff the couch cushions at open houses.


For a century, Roosevelt Island housed a grim penitentiary. It was demolished in the 1930s.


More borrowers are opting for fixed-rate loans with terms other than the standard 30 or 15 years, especially when it comes to refinancings.


Two more glass skyscrapers are added to a group of towers on the waterfront of Long Island City.


Insurance coverage for a co-op unit; when a tenant is ‘blacklisted’; a co-op is smaller than estimated.


The market for $500,000-to-$600,000 houses in Westchester has become especially active.


A shaky real estate market means more sellers are providing buyer concessions, from gift cards to help with paying property taxes.


Houses of worship are adaptable to residential and other uses as congregations dwindle.


Nearly two million Americans could benefit from mortgage relief from the nation’s biggest banks, as part of a broad government settlement to be announced on Thursday.


A cold war-era satellite relay station is for sale in California after a Silicon Valley mogul gave up on plans to turn it into a weekend home.


How can I make my front porch more appealing to buyers?


Court hearings meant to protect New York homeowners from foreclosure are hopelessly slowed by endless paperwork and requests for additional information.


The Bay Area and Silicon Valley expect the windfall from the Facebook stock offering to make their in-demand region even hotter.


A Ditmas Park co-op, Upper East Side co-op and an Upper West Side condo.


A 10-year-old house with six bedrooms in Montvale, N.J., and a renovated four-bedroom in Bronxville, N.Y.


Prices in some parts of the country are still off by as much as 25 percent from their 2007 peak.


Trinity Church is the largest landlord in Hudson Square and is part of the effort to rezone the area to residential from manufacturing.


Rising oil prices and a boom in shale exploration are leading companies to add office space in the Houston area, most notably Exxon Mobil.


Ms. de França is the president and chief executive of Douglas Elliman Development Marketing, which focuses on new residential developments.


In Manhattan, parking lots and garages are making way for all sorts of development, especially luxury condominiums.


Gray Burton lives in a 250-square-foot space he furnished with antiques he’s been collecting for years.


A photogenic Westchester suburb with high-profile residents is also known for its art museum and a performing arts center.


Wealthy investors are wiring millions of dollars to New York to snatch up a piece of 157 West 57th Street - what will be New York City's tallest residential building, with 90 floors overlooking Central Park.


An apartment at the Trump International Hotel and Tower, opposite Central Park, was bought anonymously through a limited liability company.


Homes in Dallas, Rhode Island and Denver.


A Ditmas Park co-op, Upper East Side co-op and an Upper West Side condo.


A 10-year-old house with six bedrooms in Montvale, N.J., and a renovated four-bedroom in Bronxville, N.Y.


Compare the cost of renting and buying equivalent homes.


For recently divorced men, a new breed of decorators offers help navigating a strange new world.


Plants that light up the winter garden can be found at Broken Arrow Nursery in Connecticut, which has long been a favorite of gardening geeks.


A sister in need drew the painter Beverly McIver back home to North Carolina, unaware that a new beginning was in store for both of them.


A jewelry designer finds striking new objects for storage.


Timothy Sakamoto and Jochen Repolust are part of the small but growing niche making mobile apps focused on specific works of architecture.


To promote an auction of 20th- and 21st-century design, the interior designer Stephen Sills has created a preview exhibition in an apartment at the Apthorp.


Fishs Eddy now sells plates acquired from the archives of the now-defunct Syracuse China Corporation, many more than 100 years old.


The designer Russell Greenberg creates custom baby rattles with ends shaped like profiles of mom and dad.


home       | site map |       Disclaimer |       Privacy Policy
© 2006